Gerry Weber International AG / AGM/EGM
04.06.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
- Annual General Meeting endorses payment of a record dividend
- All agenda items approved by a vast majority
- Sales projections for the current fiscal year raised moderately
- Verticalisation to be pushed ahead through expansion of online shop
All items on the agenda of todays Annual General Meeting of GERRY WEBER
International AG were approved by a vast majority of shareholders. This
way, the shareholders once again expressed their support of the companys
policy and their great confidence in the management team.
Among the most important resolutions was the increase in the dividend to
EUR 0.50. This represents an increase of EUR 0.10 or 25 percent per share
over the previous year and a total payout of EUR 11.5 million. Based on the
current share price of approximately EUR 23, this is equivalent to a
dividend yield of about two percent. This dividend, which is the highest
regular dividend in the history of the company, gives the shareholders an
appropriate share in the impressive earnings performance of GERRY
WEBER International AG. In the past fiscal year, net profit increased by
28.0 percent, and the company maintained its excellent profitability in the
first three months of the current fiscal year. The remaining profit in an
amount of EUR 22.4 million will be carried forward to new account.
Another item on the agenda related to the authorisation to purchase own
shares, which was also approved. GERRY WEBER International AG is thus
authorised to repurchase own shares at the stock exchange.
In his speech to the shareholders, CEO Gerhard Weber again highlighted the
companys excellent sales and earnings performance in the current fiscal
year and raised the sales projections for the whole year to between EUR 575
million and EUR 580 million. To achieve the planned double-digit increase
in sales revenues, the company primarily aims to push ahead its own retail
activities. In addition to opening new HOUSES OF GERRY WEBER, the
company also plans to install additional TAIFUN and SAMOON mono-brand
stores. The GERRY WEBER Group also intends to expand and refine its online
shop to boost its sales. 'We want to gain exposure to our female customers
wherever they prefer to spend their time, i.e. not only downtown but
increasingly also on the internet', the CEO told the shareholders.
Germanys e-commerce sector is already growing at double-digit rates, and
the GERRY WEBER Group aims for a high share in this growth with the help of
its optimised online shop. In terms of profitability, the company targets a
double-digit increase and an EBIT margin of 11.0 percent.
For fiscal year 2008/2009, the GERRY WEBER Group projects a double-digit
increase in sales and earnings. In four years time, Group sales are to
climb to EUR 1 billion and the EBIT margin to 15 percent. 'As we continue
to evolve into a vertically integrated systems supplier, we envisage good
opportunities for pushing ahead the companys growth in the next few
years', said Gerhard Weber.
The Annual General Meeting, which is traditionally held in the week
preceding the GERRY WEBER OPEN lawn tennis tournament at the GERRY WEBER
Event & Convention Center, was attended by roughly 1,100 shareholders and
shareholder representatives.
Investor relations contact:
Hans-Dieter Kley
Tel.: +49 (0) 52 01 185-0
E-mail: b.uhlenbusch@gerryweber.de
www.gerryweber-ag.de
DGAP 04.06.2008
---------------------------------------------------------------------------
Language: English
Issuer: 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@gerryweber.de
Internet: www.gerryweber-ag.de
ISIN: DE0003304101
WKN: 330410
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Berlin, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------
DGAP-News: GERRY WEBER INTERNATIONAL AG
| Source: EQS Group AG