DGAP-Adhoc: GERRY WEBER announces realignment exercise

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News Desk 2018

Jan 26, 2016 at 1:45 AM

DGAP-Adhoc: GERRY WEBER announces realignment exercise following difficult financial year 2014/15

Gerry Weber International AG / Key word(s): Preliminary Results 26.01.2016 07:26 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Adhoc announcement pursuant to § 15 WpHG GERRY WEBER announces realignment exercise following difficult financial year 2014/15 - Group sales revenues climb approximately 8.1% to EUR 920 million in 2014/15 - GERRY WEBER generates earnings before interest and taxes (EBIT) of EUR 79 million and EBIT margin of approximately 8.6% - HALLHUBER makes positive contribution to Group result - Programme to realign the company has been launched (Halle/Westphalia, 26 January 2016) According to preliminary figures for the past financial year 2014/15 (1 November 2014 - 31 October 2015), GERRY WEBER International AG generated sales revenues of EUR 920 million and earnings before interest and taxes (EBIT) of EUR 79 million. Accordingly, revenues and earnings are in line with the market expectations. The HALLHUBER subsidiary acquired in February 2015 contributed EUR 115 million to Group revenues; this was in line with the company's expectations at the time of the acquisition. The increase in revenues is attributable not only to the newly opened company-managed stores but also to like-for-like sales, which rose by 3.2%. Since the acquisition, HALLHUBER has opened 57 new sales floor spaces and operated a total of 275 company-managed points of sale as of 31 October 2015. Sales revenues of the GERRY WEBER Core brands (GERRY WEBER, TAIFUN and SAMOON) amounted to EUR 805 million, down approx. 5.4% on the previous year 2013/14. Due to the increased sales space, the GERRY WEBER Core Retail segment (excl. HALLHUBER) generated revenues of EUR 440 million, up approx. 8.7% on the previous year 2013/14. By contrast, like-for-like sales declined by 4.4%, which was in line with the general negative market trend in Germany. Like-for-like sales of the German fashion retail sector decreased by approx. 2% in the financial year of GERRY WEBER. The Group's earnings before interest, taxes, depreciation and amortisation (EBITDA) dropped from EUR 134.2 million in the previous year to EUR 115 million. HALLHUBER contributed EUR 10 million to the Group's EBITDA. Thereby, it should be noted that HALLHUBER was included into the consolidated financial statement for the first time in February 2015. The reduction in the Group's EBIT from EUR 108.9 million to EUR 79 million is primarily attributable to the decline in high-margin Wholesale revenues and the GERRY WEBER Core Retail segment's lower like-for-like sales. Moreover, the initial consolidation of HALLHUBER had an adverse impact on the EBIT margin, as HALLHUBER generates a lower operating margin than the GERRY WEBER Core brands due to the above average HALLHUBER expansion. Accordingly, the Group's EBIT margin declined from 12.8% to approx. 8.6%. Against the background of the unsatisfactory business performance of the past months and the continued challenging market environment for the fashion industry, the Managing Board has decided to launch a programme to realign the GERRY WEBER Group. On the occasion of the annual accounts press conference, the Managing Board will provide a detailed report on the programme, its objectives and the individual measures. <pre> in EUR million Preliminary figures Previous year: 2013/14 2014/15 Sales revenues 920 852.1 EBITDA 115 134.2 EBITDA margin approx. 12.6% 15.7% EBIT 79 108.9 EBIT margin approx. 8.6% 12.8% </pre> GERRY WEBER International AG <pre> Investor Relations Contact Press Contact Claudia Kellert Catharina Berndt Head of Investor Relations Head of Corporate Communications Tel: +49 (0)5201 185 8422 Tel: +49 (0)5201 320 Email: c.kellert@gerryweber.de Email: c.berndt@gerryweber.com </pre> 26.01.2016 The DGAP 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: E-mail: c.kellert@gerryweber.de Internet: www.gerryweber-ag.de ISIN: DE0003304101 WKN: 330410 Indices: SDAX Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------

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