DGAP-News: Gerry Weber International AG / Key word(s): Final Results
Gerry Weber International AG confirms good figures for 2011/12 and
announces addition to the Managing Board
27.02.2013 / 11:28
GERRY WEBER confirms good figures for 2011/12 and announces addition to the
- Sales revenues climb 14.2% to EUR 802.3 million in fiscal 2011/12
- Net income after taxes surges from EUR 67.0 million to EUR 78.8 million
- Proposed dividend increase to EUR 0.75 per share
- Ralf Weber and Arnd Buchardt appointed members of the Managing Board;
Doris StrÃ¤tker to resign from Managing Board
(Halle/Westphalia, 27 February 2013) At today's annual results press
conference, GERRY WEBER International AG commented on the good figures for
the fiscal year 2011/12 and confirmed the targets set for the current
fiscal year 2012/13, which had already been announced in late January 2013.
The Managing Board and the Supervisory Board will propose a dividend
increase from EUR 0.65 to EUR 0.75 per share to the Annual General Meeting.
A 14.2% increase in sales revenues to EUR 802.3 million and a 17.6% rise in
net income after taxes mean that the GERRY WEBER Group continued its
profitable growth. 'In the past fiscal year, we not only expanded our own
Retail operations but also extended our international distribution
structures,' said CEO Gerhard Weber. With 40 stores opened in 2009/10 and
some 60 new company-managed stores opened in 2010/11, the GERRY WEBER Group
doubled the number of company-managed Houses of GERRY WEBER and mono-label
stores to roughly 490 worldwide (previous year: 235).
The Wholesale segment, which comprises the company's sales to external
distribution partners, contributed EUR 502.8 million or 62.7% to total
Group revenues, which represented an increase by 3.7% on the previous year.
The Retail segment reported a 37.4% increase in sales revenues, which is
not least attributable to the acquisition of DON GIL in Austria and of the
WISSMACH stores in Germany as well as to the 51% takeover of 25 formerly
franchised Houses of GERRY WEBER in the Netherlands. The increase in
revenues generated by the company-managed retail spaces is also reflected
in their contribution to total Group sales, which rose from 31% to 37.3% in
2011/12. A regional breakdown of sales revenues shows that 61.2% or EUR
491.0 million were generated in Germany.
As a result of the higher sales revenues, the cost of materials rose from
EUR 361.5 million to EUR 404.8 million. This represented an increase by
12%, which was lower than the 14.2% increase in revenues. Accordingly, the
gross margin improved to 53.1%.
Against the background of the expansion of the own Retail operations, the
headcount increased to roughly 4,600, up by approx. 40% on the previous
year. Accordingly, personnel expenses increased to EUR 125.8 million
(previous year: EUR 103.3 million). Other operating expenses, which also
include the rents paid for the company-managed stores, rose to EUR 187.6
million (previous year: EUR 152.2 million), primarily due to the fact that
the number of our own retail spaces doubled.
Although expenses increased as a result of the business expansion, the
GERRY WEBER Group was able to improve its operating result, posting
earnings before interest and taxes (EBIT) of EUR 115.9 million. This
represents a 16.4% increase on the previous year. Accordingly, net income
for the year rose by 17.6% to EUR 78.8 million. Earnings per share amounted
to EUR 1.72, up from EUR 1.48 in the previous year.
Equity capital of EUR 363.0 million, an equity ratio of 75.1%, liquid funds
of EUR 49.2 million and financial liabilities of EUR 15.3 million reflect
the company's very solid balance sheet structure. Cash flow from operating
activities increased by 13.8% to EUR 81.1 million in the fiscal year
2011/12. This means that the company's own funds were again sufficient to
finance the total investments of EUR 84.8 million made in 2011/12, which
was a very capex-intensive fiscal year. Investments primarily comprise the
takeover and opening of some 250 new company-managed retail spaces, the
expansion of the international distribution structures as well as
investments in fixed assets, e.g. the construction of the GERRY WEBER day
nursery as well as the completion of the Hall 30 investment property in
Outlook on 2012/12
In 2012/13, the GERRY WEBER Group will primarily focus on the ongoing
internationalisation of its distribution structures and on the expansion of
its brand presence outside Germany. The company plans to open 65 to 75 new
company-managed retail spaces in the current fiscal year - most of them in
Europe. Together with its distribution partners and franchisees, the Group
will also expand its international presence and open new stores.
With sales having increased by an above-average 14.2% in the past fiscal
year, the GERRY WEBER Group projects high growth also for the current
fiscal year 2012/13. The sales target for the fiscal year 2012/13 ranges
from EUR 890 to 900 million. This would again represent a double-digit
percentage increase on the previous year.
But the company not only aims to increase its sales but to achieve
profitable growth. Accordingly, management expects its operating result to
improve, too. For the fiscal year 2012/13, GERRY WEBER International AG
projects earnings before interest and taxes (EBIT) of between EUR 131 and
135 million, up from EUR 115.9 million in the past fiscal year.
Changes on the Managing Board
In response to the growth of the GERRY WEBER Group in the past years and to
the growing strategic importance of the Retail segment, the Supervisory
Board has expanded the Managing Board of GERRY WEBER International AG. Arnd
Buchardt and Ralf Weber have been appointed members of the Managing Board
with effect from 1 August 2013. Doris StrÃ¤tker will not renew her Managing
Board contract with GERRY WEBER International AG, which will expire in July
2013, for personal reasons. The Supervisory Board would like to take the
opportunity to thank Mrs StrÃ¤tker for her commitment and her work for the
benefit of the GERRY WEBER Group.
In his capacity as long-serving Managing Director of the subsidiary
responsible for the GERRY WEBER core brand, Arnd Buchardt has made
significant contributions to the brand's positive development over the past
years. As member of the Managing Board, he will be responsible for
Wholesale, Licenses and Marketing. Ralf Weber has also worked for the
company for several years and is currently Managing Director of the
strategic important Retail segment. Within the Managing Board he will be in
charge of Retail and Corporate Development.
Key figures of the GERRY WEBER Group:
2011/12 2010/11 Change
Sales revenues (in EUR millions) 802.3 702.7 14.2
EBIT (in EUR millions) 115.9 99.6 16.4
EBIT margin in % 14.5 % 14.2 %
Net income for the year (in EUR millions) 78.8 67.0 17.6
Earnings per share (in EUR) 1.72 1.48 16.2
Dividend per share (in EUR) 0.75 0.65 15.4
Equity ratio (in %) 4,585 3,260 40.6
1 to be proposed to next AGM
Admitted to the Regulated Market of the Frankfurt Stock Exchange (Prime
Investor Relations Contact Press Contact
GERRY WEBER International AG GERRY WEBER International AG
Claudia Kellert Nina Lauterbach
NeulehenstraÃe 8 NeulehenstraÃe 8
D - 33790 Halle/Westfalen D - 33790 Halle/Westfalen
Tel.: +49 (0) 52 01-185 8422 Tel.: +49 (0) 52 01-185 320
E-mail: firstname.lastname@example.org E-mail: email@example.com
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Company: Gerry Weber International AG
Phone: +49 (0)5201 185-0
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Listed: Regulierter Markt in DÃ¼sseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Stuttgart
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