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Excellent start to fiscal year 2010/2011, GERRY WEBER
11
Apr '11
The GERRY WEBER Group again achieved strong growth in the first quarter of 2010/2011, when sales and earnings hit new records. At EUR 153.5 million, Group sales were up by 9.8 percent on the previous year's EUR 139.8 million. Growth was again primarily driven by the Retail segment, whose sales revenues improved by 26.8 percent from EUR 39.0 million to EUR 49.4 million. “Our own stores are the drivers of our fast growth. We will therefore continue our vertical integration with determination,” said CEO Gerhard Weber.

With pre-orders for the fifth collection for the autumn/winter season 2011/2012 up by 8.5 percent to EUR 108.5 million across all three brands, the Wholesale segment is also showing an excellent performance, which suggests that sales will continue to increase in the current fiscal year. In the coming years, the company sees considerable growth potential primarily abroad. The GERRY WEBER Group is putting its operations on an increasingly international basis and plans to expand its export share considerably in the coming years.

The sharp rise in sales revenues in the first three months of 2010/2011 again led to a disproportionate increase in earnings. Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 15.3 percent from EUR 16.0 million in the previous year to EUR 18.5 million. Earnings before interest and taxes (EBIT) rose by 18.5 percent from EUR 13.1 million in the previous year to EUR 15.5 million. Earnings before taxes (EBT) climbed 20.9 percent from EUR 12.2 million to EUR 14.8 million. The respective margins improved accordingly. Net income for the period was up by 22.3 percent on the previous year's EUR 8.0 million to EUR 9.8 million. DVFA earnings per share climbed from EUR 0.39 (based on 20,687,948 shares outstanding) to EUR 0.44 (based on 22,383,309 shares outstanding).

On 31 January 2011, the company employed 2,794 people, 347 more than in the previous year (2,447).

The GERRY WEBER Group believes that the excellent performance in the first three months of 2010/2011 confirms its sales and earnings projections for the full year. The company expects sales revenues to increase by over ten percent to approximately EUR 700 million and projects an EBIT margin of more than 14.0 percent for the current fiscal year. Sales are expected to increase at double-digit rates also in each of the next two to three fiscal years, while the EBIT margin should climb to 15 percent.

The company will further accelerate the expansion of the Retail segment and plans to open about 65 to 75 own HOUSES OF GERRY WEBER per year, plus another 60 to 70 franchised stores per year. “We increasingly see ourselves as a global player and will expand our international activities significantly,” Gerhard Weber concluded. “We are planning to open own HOUSES OF GERRY WEBER primarily in Switzerland, Austria, Denmark, the UK and Spain.” The number of concession shops at El Corte Inglés is to increase from 26 to 40.

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.

GERRY WEBER Group


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