DGAP-News: GERRY WEBER starts fiscal year with record results
(firmenpresse) - Gerry Weber International AG / Quarter Results
25.03.2010 09:00
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- Sales and earnings hit new records in the first quarter of 2009/2010
- Incoming orders rise sharply
(Halle/Westphalia, March 25, 2010) Hitting new sales and earnings records,
the GERRY WEBER Group had a successful start into the fiscal year
2009/2010. Notwithstanding the general spending restraint, the company
generated record sales of EUR 139.8 million, while at the same time
improving its profitability significantly. 'We are excellently positioned
in the market and have our costs firmly under control. Moreover, we rely on
sustainable expansion,' CEO Gerhard Weber commented on the company's record
streak. 'The Retail business is our growth driver, keeping us in the fast
lane even in difficult economic times. Our own Retail activities represent
an important competitive advantage, which we will expand consistently.'
The company's Wholesale activities are no less successful. Incoming orders
for the first and second autumn/winter 2010 collection were up by 4.7
percent on the previous year's EUR 195.8 million to EUR 205.1 million and
suggest that sales will continue to rise in the current fiscal year. Total
incoming order figures for the full autumn/winter 2010 season will be
available after the end of the ordering round in May 2010.
In the first quarter of 2009/2010, the GERRY WEBER Group once again
isolated itself from the negative market trend and boosted its Group sales
by 2.3 percent from EUR 136.6 million in the previous year to EUR 139.8
million. The Retail business remains the main growth driver. Revenues in
this segment, which comprises the company-managed HOUSES OF GERRY WEBER,
the mono-brand stores, the outlet stores and the eShop, rose by 18.4
percent to EUR 39.0 million (previous year: EUR 32.9 million).
Thanks to strict cost management, all earnings figures of the GERRY WEBER
Group again increased at a clearly disproportionate rate, with margins
improving even further. Earnings before interest, taxes, depreciation and
amortisation (EBITDA) increased by 7.4 percent from EUR 14.9 million to EUR
16.0 million in the first quarter. At EUR 13.1 million, earnings before
interest and taxes (EBIT) were up by 10.1 percent on the previous year's
EUR 11.9 million. Earnings before taxes (EBT) climbed 14.0 percent from EUR
10.7 million to EUR 12.2 million, with the respective margins rising
accordingly. Net income for the period increased by 8.2 percent from EUR
7.4 million to EUR 8.0 million. DVFA earnings per share, based on
20,687,948 shares outstanding, rose to EUR 0.39.
As of 31 January 2010, the company employed 2,447 people, 107 more than in
the previous year (2,340). The new jobs were primarily created as a result
of the expansion of the Retail activities.
Provided that the consumer climate will not deteriorate markedly, the GERRY
WEBER Group projects sales of between EUR 615 million and EUR 620 million
and an EBIT margin of 13 percent for the current fiscal year. Sales of
approximately EUR 660 million and an EBIT margin of 14 percent are expected
for the fiscal year 2010/2011. 'We have taken comprehensive measures to
further improve our profitability. The market intelligence gained at thepoint of sale allows us to match our collections even more effectively with
consumers' needs, which entails additional cost advantages', Gerhard Weber
concluded. 'We will push ahead our expansion. We want to grow markedly both
in the Retail and the Wholesale segment and clearly leave our competitors
behind.'
The Retail activities will be expanded in particular. The company plans to
open 70 to 80 new HOUSES OF GERRY WEBER in the current fiscal year, of
which some 47 will be managed by the company itself. About 35 of the new
multi-brand stores will be opened in Germany. As far as the mono-brand
stores are concerned, some 13 new SAMOON by GERRY WEBER, TAIFUN and GERRY
WEBER EDITION stores will be opened to increase the visibility of the
brands in the market. The number of concession shops, in which the GERRY
WEBER Group deploys its own specially trained staff, will also be
increased.
As a strong partner to the retail sector, the GERRY WEBER Group will also
expand its Wholesale activities and plans to open some 180 new
shop-in-shops in the current fiscal year. At the same time, the cooperation
with retailers under maximum order limit arrangements will be expanded. The
company aims to work on the basis of maximum order limit arrangements with
two thirds of its customers within the coming years.
First quarter figures of the GERRY WEBER Group
in EUR m (to IFRS) 2009/2010 2008/2009*) on the basis of 20,687,948 outstanding shares
Sales 139.8 136.6
EBITDA 16.0 14.9
EBITDA margin 11.5% 10.9%
EBIT 13.1 11.9
EBIT margin 9.4% 8.7%
EBT 12.2 10.7
EBT margin 8.7% 7.9%
Net income 8.0 7.4
DVFA earnings per share in EUR 0.39* 0.34**
Gross cash flow 15.2 13.7
Fixed asset investments 1.9 3.4
Headcount on 31 January 2,447 2,340
**) on the basis of 21,696,444 outstanding shares
Investor relations contact:
GERRY WEBER International AG
Sandra Steltenkamp
Neulehenstraße 8
D-33790 Halle/Westphalia
Tel. +49 (0)5201 - 185 8422
Fax +49 (0)5201 - 162 19
Email: s.steltenkamp(at)gerryweber.de
25.03.2010 09:00 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Gerry Weber International AG
Neulehenstraße 8
33790 Halle/Westfalen
Deutschland
Phone: +49 (0)5201 185-0
Fax: +49 (0)5201 5857
E-mail: h.kley(at)gerryweber.de
Internet: www.gerryweber-ag.de
ISIN: DE0003304101
WKN: 330410
Indices: SDAX
Listed: Regulierter Marktin Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Berlin, Stuttgart
End of News DGAP News-Service
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