DGAP-News: Gerry Weber International AG / Key word(s): Final Results
GERRY WEBER continues to expand at fast pace
24.02.2011 / 10:00
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Halle/Westphalia, 24 February 2011
GERRY WEBER continues to expand at fast pace
The GERRY WEBER Group continued its impressive success story in the fiscal
year 2009/2010. At EUR 621.9 million, Group sales were up by 4.7 percent on
the previous year's EUR 594.1 million. 'The excellent performance of our
three brands was preceded by a consistent modernisation process. We have
clearly rejuvenated our collections over the past years and now present a
clear and consistent signature and an even more stylish design across all
three brands,' said CEO Gerhard Weber. 'But the collections have not only
been rejuvenated but also been downsized markedly in response to retailers'
requests. The use of high-quality materials such as cashmere and leather
has additionally given the collections a more international appeal, so that
they now cater to the taste of consumers who want excellent quality and
modern design.'
Earnings before interest, taxes, depreciation and amortisation (EBITDA)
increased by 13.9 percent from EUR 83.6 million to EUR 95.2 million.
Earnings before taxes (EBIT) climbed 17.0 percent from EUR 71.2 million to
EUR 83.3 million, while earnings before taxes (EBT) rose by 19.9 percent
from EUR 66.4 million to EUR 79.6 million. The respective margins increased
accordingly. At EUR 54.0 million, net income for the year was up 25.6
percent on the previous year's EUR 43.0 million. DVFA earnings per share
improved from EUR 2.08 (based on 20,661,848 shares outstanding) to EUR 2.53
(based on 21,317,242 shares outstanding). The return on equity, based on
earnings before interest and taxes, stood at 39.6 percent - compared to
44.8 percent in the previous year - due to the sale of own shares. The
return on investment, based on EBIT, climbed from 24.3 percent to 25.5
percent.
To give the shareholders an appropriate share in the company's excellent
performance, the Managing Board will propose a profit distribution of EUR
1.10 per voting share to the Annual General Meeting. The dividend will thus
be approx. 30 percent higher than in the previous year.
On 31 October 2010, GERRY WEBER International AG employed 2,699 people, 279
people more than in the previous year. All 279 jobs were created in
Germany.
For the current fiscal year, the GERRY WEBER Group projects Group sales of
approx. EUR 700 million, which would represent an increase by more than 10
percent. The EBIT margin is expected to climb to over 14 percent. The
company projects double-digit sales growth also for the next two to three
fiscal years. 'In the past fiscal year, we have adapted our brand policy
even more closely to consumers' requirements,' Gerhard Weber concluded. 'We
continue to expand the lead over our competitors and are ideally positioned
to reach our growth targets.'
The company plans to further accelerate the expansion of its own Retail
activities in the current fiscal year. Going forward, the company intends
to open between 65 and 75 own HOUSES OF GERRY WEBER per year, plus another
60 to 70 franchised stores per year. Outside Germany, new HOUSES OF GERRY
WEBER are planned primarily in Switzerland, Austria, Denmark, the UK and
Spain. The company also projects high growth rates for the GERRY WEBER
eShop.
As a strong partner to the retail sector, the GERRY WEBER Group will open
some 200 new shop-in-shops in the current fiscal year. At the same time,
cooperations with retailers under maximum order limit arrangements will be
expanded
Key figures of the GERRY WEBER Group:
in EUR million (to IFRS) 2009/2010 2008/2009
Sales 621.9 594.1
EBITDA 95.2 83.6
EBITDA margin 15.3% 14.1%
EBIT 83.3 71.2
EBIT margin 13.4% 12.0%
EBT 79.6 66.4
EBT margin 12.8% 11.2%
Net income for the year 54.0 43.0
DVFA earnings per share in EUR 2.53(1) 2.08(2)
Gross cash flow 91.5 78.8
Fixed asset investments 28.7 19.9
Headcount on 31 Oct. 2,699 2,420
(1) on the basis of 21,317,242 outstanding shares
(2) on the basis of 20,661,848 outstanding shares
Investor Relations contact:
GERRY WEBER INTERNATIONAL AG
Hans-Dieter Kley
NeulehenstraÃe 8
D - 33790 Halle/Westfalen
Tel.: +49 (0) 52 01 - 1850
Fax: +49 (0) 52 01 - 5857
E-mail: h.kley@gerryweber.de
End of Corporate News
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Language: English
Company: Gerry Weber International AG
NeulehenstraÃe 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
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Stuttgart
End of News DGAP News-Service
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113224 24.02.2011
DGAP-News: GERRY WEBER continues to expand at fast pace
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