DGAP-News: Gerry Weber International AG / Key word(s): Half Year
Results
GERRY WEBER increases its profitability in H1 2013/14
13.06.2014 / 07:30
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Corporate News
GERRY WEBER increases its profitability in H1 2013/14
- Earnings before interest and taxes (EBIT) climb 14.2% in H1 2013/14
- EBIT-margin improves from 10.7% to 12.0%
- Earnings per share increase to EUR 0.71 at the six-month stage of the
current fiscal year (H1 2012/13: EUR 0.64)
(Halle/Westphalia, 13 June 2014) In the first half of 2013/14, GERRY WEBER
International AG increased its sales revenues by 2.2% on the previous year
to EUR 412.8 million. Sales revenues of the Retail segment climbed 13.3% to
EUR 188.6 million (H1 2012/13: EUR 166.6 million), whereas the Wholesale
segment's revenues declined by 5.6% to EUR 224.1 million (H1 2012/13: EUR
237.3 million).
The growth in Retail revenues is attributable, on the one hand, to the
expansion of the company-managed stores in Germany and abroad and, on the
other hand, to an increase in like-for-like sales. "With like-for-like
Retail revenues up by 5.2% on the first half of the previous year, we
clearly outperformed the German fashion market as a whole," explains Ralf
Weber, Board member in charge of the Retail segment of GERRY WEBER
International AG.
The Wholesale segment contributed 54.3% (H1 2012/13: 58.8%) to total Group
revenues. In this context, it should be noted that last year's Wholesale
revenues still included the sales revenues of the Belgian Houses of GERRY
WEBER in which the GERRY WEBER Group has acquired a majority stake.
Moreover, the company pursued a selective distribution strategy and
deliberately refrained from doing business with customers with poor credit
ratings in order to minimise the risk of default.
Gross margin
Earnings in the first quarter of 2013/14 were influenced by the shift of
the winter sale to January 2013. By contrast, the second quarter saw
profitability improve notably. As a result, the gross margin increased from
50.7% in the previous quarter to 56.0% in the second quarter.
The gross margin for the first six months of 2013/14 improved from 52.3% to
55.0%. The increased share of the Retail segment had a particularly
positive effect on the company's gross margin.
Improved profitability
Against the background of the increased gross margin and strict cost
management, earnings before interest and taxes (EBIT) in the second quarter
of 2013/14 climbed to EUR 31.3 million, up from EUR 25.6 million in the
second quarter of the previous year. This represents an increase of 22.3%.
The EBIT margin rose from 11.7% to 14.2%.
Earnings before interest and taxes (EBIT) for the full first six months of
the current fiscal year increased by 14.2% to EUR 49.5 million.
Accordingly, the EBIT margin improved from 10.7% to 12.0% in the first half
of 2013/14.
Taking into account the financial result (EUR -2.7 million) and income
taxes (EUR -14.1 million), GERRY WEBER International AG generated earnings
after taxes of EUR 32.7 million in the first half of 2013/14. This is
equivalent to earnings per share of EUR 0.71 (H1 2012/13: EUR 0.64).
"Profitable growth is one of the primary objectives of our company. After
last year's difficult weather conditions, the earnings figures for the
first six months of 2013/14 show that we have returned to our past
profitability and can even improve it further," said Ralf Weber, Board
member in charge of the Retail segment of GERRY WEBER International AG.
Key figures of the GERRY WEBER Group for H1 2013/14
<pre>
H1 2013/ H1 2012/ Q2 2013/ Q2 2012/
14 13 14 13
Sales revenues (in EUR millions) 412.8 403.9 222.4 219.0
EBITDA (in EUR millions) 61.8 53.4 37.5 30.3
EBITDA margin in % 15.0% 13.2% 16.9% 13.8%
EBIT (in EUR millions) 49.5 43.4 31.3 25.6
EBIT margin in % 12.0% 10.7% 14.2% 11.7%
Net income for the period 32.7 29.3 21.1 17.8
(in EUR millions)
Earnings per share (in EUR) 0.71 0.64 0.46 0.39
Equity ratio (in %) 67.7 % 80.7% 67.7% 80.7%
Headcount (average) 4,866 4,725 4,866 4,725
</pre>
Admitted to the Regulated Market of the Frankfurt Stock Exchange (Prime
Standard)
ISIN: DE0003304101
WKN: 330410
<pre>
Investor Relations Contact
GERRY WEBER International AG
NeulehenstraÃe 8
D - 33790 Halle/Westphalia
Claudia Kellert Anne Hengelage
phone.: +49 (0) 52 01-185 8422 phone: +49 (0) 52 01-185 8522
email: c.kellert@gerryweber.de email: a.hengelage@gerryweber.de
</pre>
End of Corporate News
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Language: English
Company: Gerry Weber International AG
NeulehenstraÃe 8
33790 Halle/Westfalen
Germany
Phone: +49 (0)5201 185-0
Fax: +49 (0)5201 5857
E-mail: c.kellert@gerryweber.de
Internet: www.gerryweber-ag.de
ISIN: DE0003304101
WKN: 330410
Indices: MDAX
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Stuttgart
End of News DGAP News-Service
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273441 13.06.2014
DGAP-News: GERRY WEBER increases its profitability in H1 2013/14
| Source: EQS Group AG