DGAP-News: GERRY WEBER increases its profitability in H1

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 --------------------------------------------------------------------- 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 Neulehenstraße 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 --------------------------------------------------------------------- 13.06.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Gerry Weber International AG Neulehenstraße 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 --------------------------------------------------------------------- 273441 13.06.2014