Gerry Weber clocks 10.5% growth in H1 FY'12 sales

Gerry Weber International AG remains on track to reach targets for FY 2011/12 as sales revenues grow by 10.5%.

- 2011/12 first-half sales increase to EUR 376.0 million (H1 2010/11: EUR 340.4 million)

- Earnings before interest and taxes (EBIT) rise 15.8% to EUR 47.0 million

- EBIT margin climbs to 12.5% in first half of 2011/12 (H1 2010/11: 11.9%)

Following a 7.6% increase in sales revenues in the first quarter of the financial year 2011/12, Gerry Weber International AG boosted its revenues by 12.8% in the second quarter compared to the previous year. The Gerry Weber Group's sales revenues rose from EUR 187.0 million in the prior year quarter to EUR 211.0 million in the second quarter of 2011/2012 (1 Feb. - 30 April 2012).

Group sales revenues for the first half of the current financial year (1 Nov. 2011 - 30 April 2012) totalled EUR 376.0 million, which represents a year-on-year increase of 10.5%.

At EUR 131.8 million (H1 2010/11: EUR 100.7 million), the Retail segment accounted for 35.0% of total Group revenues, up from 29.6% in the first half of the previous year. Wholesale revenues also showed a positive trend and climbed from EUR 236.4 million to EUR 238.9 million in the first half of 2011/12.

In spite of the start-up and conversion expenses resulting from the takeover of the former WISSMACH stores, earnings before interest and taxes (EBIT) improved significantly. The EBIT margin climbed from 13.4% in the second quarter of FY 2010/11 to 13.9% in Q2 2011/12, when earnings before interest and taxes (EBIT) totalled EUR 29.3 million.

The Gerry Weber Group's EBIT for the first six months of 2011/12 amounted to EUR 47.0 million, with the EBIT margin reaching 12.5% (previous year: 11.9%).

Taking into account the financial result of EUR -1.0 million and income taxes (EUR -14.3 million), net income for the first half of 2011/12 after taxes increased by +24.1% to EUR 31.6 million. Accordingly, earnings per share rose from EUR 0.57 to EUR 0.69.

43 company-managed Houses of Gerry Weber were opened in the first six months of 2011/12, thereof 20 outside Germany. Another 25 new Houses of Gerry Weber were opened by franchisees. Throughout the world, our attractive brands are sold in over 560 Houses of Gerry Weber and almost 2,500 shop-in-shops; these figures do not include the yet-to-be-converted former WISSMACH stores.

Gerry Weber International AG feels that the good performance in the first half of 2011/12 supports its sales and earnings forecast for the full year 2011/12. Taking into account the effects of the takeover of the former WISSMACH stores, the company projects Group revenues of EUR 795 million and an EBIT margin of 14.5% to 14.6% for the current financial year.

Gerry Weber International AG