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GERRY WEBER International AG (GWI2.F)

Frankfurt - Frankfurt Delayed price. Currency in EUR
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17.10-0.10 (-0.58%)
At close: 8:15AM CEST
Full screen
Previous close17.20
Open17.10
Bid0.00 x N/A
Ask0.00 x N/A
Day's range17.10 - 17.10
52-week range2.00 - 24.40
Volume130
Avg. volume17
Market cap20.866M
Beta (5Y monthly)-198.10
PE ratio (TTM)N/A
EPS (TTM)-58.72
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend date28 Apr 2017
1y target estN/A
  • EQS Group

    Gerry Weber International AG: Quarterly statement: GERRY WEBER International AG increases normalised EBITDA despite lockdown in Q1 2021

    DGAP-News: Gerry Weber International AG / Key word(s): Interim Report27.05.2021 / 07:30 The issuer is solely responsible for the content of this announcement.Quarterly statement: GERRY WEBER International AG increases normalised EBITDA despite lockdown in Q1 2021- Online revenues grow by over 54% to EUR 9.1 million - Coronavirus pandemic sends consolidated revenues falling by 45% to EUR 46.4 million - At EUR -3.0 million, normalised EBITDA slightly above previous year due to strict cost discipline - Liquidity currently secured- Forecast for FY 2021 confirmedHalle/Westphalia, 27 May 2021 - GERRY WEBER International AG today presented its quarterly statement for the first three months of the fiscal year 2021. The quarterly statement is available online at:https://ir.gerryweber.com/websites/gerryweber/English/4200/interim-reports.htmlIn the first three months of 2021, the business performance of GERRY WEBER International AG continued to be strongly influenced by the global coronavirus pandemic. While the GERRY WEBER stores in some European countries remained open or were allowed to reopen gradually, the German stores were closed almost without interruption in the first quarter. Since 8 March 2021, the opening situation has changed depending on the regional infection trend (e.g. limited number of customers permitted per store or purchase only by prior appointment, negative test result or vaccination/recovery). In the first quarter of 2021, the GERRY WEBER Group lost some 55 sales days throughout Germany.As a result, the GERRY WEBER Group generated revenues of EUR 46.4 million in the first quarter of 2021 (EUR 83.7 million in Q1 2020). This represents a decrease by approx. 45% compared to the same period of 2020, which was only little affected by the effects of the coronavirus pandemic. Due to the lockdown and intensive sales promotion measures, e-commerce revenues grew strongly by around 54% in the first quarter to EUR 9.1 million (previous year: EUR 5.9 million). Revenues of the Retail segment declined sharply to EUR 20.1 million (previous year: EUR 38.9 million). With its wholesale partners, GERRY WEBER generated revenues of EUR 26.3 million (previous year: EUR 44.7 million).Gross profit declined less sharply in the first three months and stood at EUR 31.7 million (previous year: EUR 51.7 million). Consequently, the gross profit margin improved by 6.5 percentage points to 68.3% (previous year: 61.8%). Earnings before interest, taxes, depreciation and amortisation (EBITDA) reached EUR 4.8 million (previous year: EUR 7.6 million). At EUR -3.0 million, EBITDA adjusted for the effects of lease accounting in accordance with IFRS 16 (normalised EBITDA) exceeded the previous year's EUR -3.5 million despite the decline in revenues. This year-on-year improvement in earnings is attributable to the cost-cutting measures implemented in 2020 as well as to the strict cost discipline applied throughout the Group. Consolidated net income for the period was slightly below the prior year level at EUR -10.1 million (previous year: EUR -9.5 million)"The first quarter of 2021 was dominated by the lockdown and the pandemic. We were nevertheless able to increase our normalised EBITDA compared to the previous year. This makes us confident that we are on the right track - the restructuring exercises of the past years are beginning to pay off," said Florian Frank, Chief Financial Officer (CFO) of GERRY WEBER International AG. "What is more, the vaccination progress and the planned gradual lifting of the lockdowns make us cautiously optimistic that the situation in the retail sector will also improve soon," Florian Frank added.The GERRY WEBER Group's response to the crisis included financing measures, the use of government aid as well as operational measures. To secure its liquidity, for instance, the company raised an additional credit facility of EUR 5 million in February and applied for and was granted government aid ("Überbrückungshilfe III") of EUR 12 million in March. "As the year progresses, we will examine further financing measures such as additional credit facilities or government support depending on the situation," said Florian Frank.The government support services used still include short-time work for employees based in Germany; similar solutions for employees at foreign locations are implemented in accordance with applicable legal options. The operational measures include the expansion of the online business in conjunction with a stronger connection between the stationary and digital points of sale. To reduce rental expenses, the company remains in talks with its landlords and continues to take advantage of statutory regulations. In addition, talks are underway to sublet sales space to partners offering complementary product ranges. Investments continue to be reviewed critically and will be postponed where appropriate. Since the beginning of the pandemic, the operational measures have also included comprehensive concepts to maintain the health of the GERRY-WEBER Group's employees, customers and business partners.The Managing Board of GERRY WEBER International AG is convinced that the above measures will help secure the liquidity of the company and the continuation of its business activities. This assumption is based on a planning period until 2023. For the fiscal year2021, the Managing Board continues to project consolidated revenue of between EUR 260 million and EUR 280 million, and at the same time intends to further improve the company's profitability. Normalised consolidated EBITDA is expected to improve to a negative low double-digit million figure.In March, a pre-contract on the sale of Ravenna Park, the company's own logistics centre in Halle Westphalia, was signed. The buyer is WB Logistik GmbH, a company owned by Christian Busch, the majority shareholder of Walbusch Walter Busch GmbH & Co KG based in Solingen. Christian Busch and GERRY WEBER plan to jointly use Ravenna Park in future. Ravenna Park and the then former workforce of GERRY WEBER Logistik GmbH will thus remain the hub for the Group's distribution logistics also in the future. According to the insolvency plan, proceeds from the sale of Ravenna Park will be distributed to the insolvency creditors of GERRY WEBER International AG.About the GERRY WEBER GroupHeadquartered in Halle/Westphalia and employing some 2,300 people, GERRY WEBER International AG is one of the largest fashion and lifestyle companies in Europe. The company sells trend-oriented modern classic mainstream fashion in 59 countries. In addition to the GERRY WEBER brand, the GERRY WEBER Group also owns the younger TAIFUN brand and the plus-size brand SAMOON. For more information, visit www.gerryweber.com Press contactKristina SchützeHead of Corporate Communications / Press OfficerTel: +49 5201 185 320Mobile: +49 172 577 5436E-mail: Kristina.Schuetze@gerryweber.com Investor relations contact Dr. Andrea RolveringInvestor RelationsMobile: +49 157 57103411Mail: andrea.rolvering@gerryweber.com27.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at 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: ir@gerryweber.com Internet: http://group.gerryweber.com ISIN: DE000A255G36 WKN: A255G3 Listed: Regulated Market in Dusseldorf, Frankfurt (General Standard) EQS News ID: 1200998 End of News DGAP News Service

  • EQS Group

    Gerry Weber International AG: Revenues and EBITDA of GERRY WEBER reach forecast levels in FY 2020

    DGAP-News: Gerry Weber International AG / Key word(s): Annual Report/Annual Results30.04.2021 / 12:52 The issuer is solely responsible for the content of this announcement.Revenues and EBITDA of GERRY WEBER reach forecast levels in FY 2020- Consolidated revenues at EUR 278.2 million; normalised EBITDA at EUR -40.8 million - March 2020 forecast achieved- Revenues of EUR 260 million to EUR 280 million and normalised EBITDA in the low negative double-digit million range expected for FY 2021- Liquidity currently secured- Forecast remains subject to uncertainty due to coronavirus pandemic "GERRY WEBER is now optimally positioned and our liquidity is currently secured, as we took out an additional credit facility of EUR 5 million in February 2021 and received stopgap aid in March. Moreover, with at least some retail outlets open, March showed us that our product is very well received by our customers," says Florian Frank, Chief Financial Officer of GERRY WEBER International AG. "In spite of the COVID-19-related imponderables, the financial statements confirm both the revenue and earnings expectations. My sincere thanks go to our highly committed teams, both internally and externally, as we owe it to them that the audit of the separate and the consolidated financial statements for the fiscal year could be completed in April in spite of the change of auditors." Halle/Westphalia, 30 April 2021 - GERRY WEBER International AG today presented its consolidated financial statements for the fiscal year 2020. The fiscal year commenced on 1 January and ended on 31 December 2020. The Annual Report for the fiscal year 2020 is available online at:https://ir.gerryweber.com/websites/gerryweber/English/4100/annual-reports.htmlIn the fiscal year 2020, GERRY WEBER International AG generated consolidated sales revenues of EUR 278.2 million, which is at the upper end of the range of EUR 260 million to EUR 280 million projected in March 2020. Comparisons with the previous year are possible only to a limited extent, as the stub fiscal year 2019 covered a period of nine months, whereas the fiscal year 2020 comprised twelve months.Domestic revenues of the GERRY WEBER Group amounted to EUR 157.8 million (previous year: EUR 195.0 million), which is equivalent to 56.7% (previous year. 59.0%) of total revenues. This means that 43.3% (previous year: 41.0%) of total Group revenues were generated in markets outside Germany.The GERRY WEBER Group's Retail segment reported revenues of EUR 159.2 million for the fiscal year 2020 (previous year: EUR 210.4 million). The segment's share in total Group revenues thus declined to 57.2% (previous year: 63.7%). The total online revenues amounted to EUR 27.4 million (previous year: EUR 22.1 million), which represented roughly 10% of the Group's total revenues (previous year: 6.7%). Sales revenues in the GERRY WEBER Wholesale segment amounted to EUR 119.0 million in the fiscal year 2020 (previous year: EUR 120.1 million). The share of Group revenues increased accordingly to 42.8% (previous year: 36.3%).The GERRY WEBER Group uses normalised EBITDA (adjusted for the effects of lease accounting in accordance with IFRS 16) to assess its operating profitability. Normalised EBITDA stood at EUR -40.8 million in the fiscal year 2020 as a result of the pandemic-related Europe-wide closures (previous year: EUR 138,8 million). GERRY WEBER International AG thus also achieved its earnings forecast, which had projected normalised consolidated EBITDA in the medium negative double-digit million range. EBITDA reported stood at EUR -2.5 million (previous year: EUR 176.7 million).Taking into account depreciation/amortisation, the Group's reported EBIT for the fiscal year 2020 amounted to EUR -51.7 million (previous year: EUR 130.0 million). Adjusted for the effects of the application of lease accounting pursuant to IFRS 16, normalised consolidated EBIT amounted to EUR -57.1 million in 2020 (previous year: EUR 122.9 million) and the normalised EBIT margin to -20.5% (previous year: EUR 37.2%). The GERRY WEBER Group's financial result deteriorated from EUR -8.5 million to EUR -14.3 million in the reporting period due to increased interest expenses. The increased interest expenses are attributable to higher interest for insolvency liabilities as of the coming into effect of the insolvency plan as well as to interest on loans from the plan sponsors. After deduction of income taxes, the consolidated net loss for the fiscal year 2020 amounted to EUR -65.4 million. In the previous year, consolidated net income of EUR 119.3 million had been posted. Earnings per share amounted to EUR -58.12 (previous year: EUR 105.96).The separate and the consolidated financial statements of GERRY WEBER International AG were audited by Rödl & Partner GmbH Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft, which was appointed by the Gütersloh Local Court.At this stage, the GERRY WEBER Group expects the situation regarding retail openings in its German core market to gradually return to normal as of mid-year. So far, the Group has lost some 55 sales days across Germany in 2021. Changing opening scenarios in Germany and in European markets lead to considerable forecast uncertainty. Against this background, GERRY WEBER International AG expects revenues for the fiscal year 2021 to also come in at between EUR 260 million and EUR 280 million. The Managing Board nevertheless believes that it will be possible to improve the company's profitability and to generate normalised consolidated EBITDA (adjusted for the effects of lease accounting in accordance with IFRS 16) in a low negative double-digit million range in 2021. The Managing Board of GERRY WEBER International AG is also convinced that it has put in place all the conditions required to operate successfully in the market in the long term, to successfully refinance the company in 2023 and to once again become a dividend-paying stock.The three brands GERRY WEBER, TAIFUN and SAMOON are to be more strongly differentiated from each other so that the profile of each brand can be further sharpen. The aim in the Retail business is to increase the profitability of the company's own stores again in the coming years. In addition, further outlets shall be opened in the fast-growing factory outlets. In e-commerce, the plans envisage a significant increase in sales of 20% per year in the medium term. This is to be achieved, among other things, by means of an increased marketing budget, increased personnel capacities and inventories. In the wholesale business, the performance with existing customers and win back "lighthouse retail partners". To achieve this, the sales organisation will be separated again and specialized sales teams will be set up."Even though the coronavirus pandemic continues to weigh heavily on us, we remain confident about post-crisis times, as we clearly have an intact business model," says Alexander Gedat, CEO of GERRY WEBER International AG. "The GERRY WEBER Group has strong brands, a highly competent and motivated team, and attractive target groups. After the pandemic, our customers will be even more interested in high-quality and sustainable fashion, which GERRY WEBER, TAIFUN and SAMOON can offer them, perfectly tailored to their individual needs." Angelika Schindler-Obenhaus, COO and designated CEO of GERRY WEBER International AG, added: "Newly developed sales strategies - digital, analogue and in hybrid form - address customers' buying habits, which are changing even more strongly as a result of the pandemic. Our product and our approach are geared to these changing demands and the lifestyle of our target group, create desirability and give the customer the inspiration she wants especially after the difficult past months."About the GERRY WEBER GroupHeadquartered in Halle/Westphalia and employing some 2,500 people, GERRY WEBER International AG is one of the largest fashion and lifestyle companies in Europe. The company sells trend-oriented modern classic mainstream fashion in 59 countries. In addition to the GERRY WEBER brand, the GERRY WEBER Group also owns the younger TAIFUN brand and the plus-size brand SAMOON. For more information, visit www.gerryweber.com Press contactKristina SchützeHead of Corporate Communications / Press OfficerTel: +49 5201 185 320Mobile: +49 172 577 5436E-mail: Kristina.Schuetze@gerryweber.com Investor relations contact Dr. Andrea RolveringInvestor RelationsMobile: +49 157 57103411Mail: andrea.rolvering@gerryweber.com/30.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at 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: ir@gerryweber.com Internet: http://group.gerryweber.com ISIN: DE000A255G36 WKN: A255G3 Listed: Regulated Market in Dusseldorf, Frankfurt (General Standard) EQS News ID: 1191270 End of News DGAP News Service

  • EQS Group

    Gerry Weber International AG: GERRY WEBER International AG strengthens liquidity

    DGAP-News: Gerry Weber International AG / Key word(s): Financing18.02.2021 / 12:57 The issuer is solely responsible for the content of this announcement.GERRY WEBER International AG: GERRY WEBER International AG strengthens liquidity(Halle/Westphalia, 18 February 2021) - GERRY WEBER International AG receives additional liquidity of at least approximately EUR 5 million. Today, the company has entered into a new, secured credit facility for this purpose.Bondholders of the company with a minimum volume of bonds in the amount EUR 100,000 (based on the nominal amount or the redemption amount) who are authorized to grant loans to the company will be given the opportunity to exchange their bonds plus an additional cash payment of at least EUR 100,000 (corresponding to EUR 1 in cash for each EUR 1 nominal amount or redemption amount of the bonds participating in the exchange) into an investment in the credit facility in the amount of at least EUR 200,000. The total volume of the credit facility is up to EUR 12 million, which can provide the company with up to EUR 6 million in additional liquidity. In this context, the company's three largest shareholders have agreed to assume a backstop commitment through their respective affiliated companies Robus SCSp SICAV-FIAR-ROBUS RECOVERY FUND II, Morrigan Lending Designated Activity Company and J.P. Morgan AG in favor of GERRY WEBER International AG in order to guarantee the payout of at least approximately EUR 5 million additional liquidity to the company.Florian Frank, Chief Financial Officer of GERRY WEBER International AG, explains: "Due to uncertainty brought by German corona lock-down, the company has proactively approached existing creditors to solidify liquidity and continue on successful turnaround previously outlined. The company is pleased about the additional financial support from our shareholders and creditors showing their trust in our ongoing turnaround."The company plans to hold a conference call for the bondholders who are eligible to participate in the exchange offer (i.e. with a minimum volume of bonds in the amount EUR 100,000 (based on the nominal amount or the redemption amount) who are authorized to grant loans to the company) on 24 February 2021, in which the company's management board will explain the offer. Interested eligible bondholders are asked to register for the conference call at the email address exchangeoffer@gerryweber.com by no later than 12:00 CET (noon) on 22 February 2021.With respect to the financial year 2020, we continue to expect consolidated revenue between EUR 260 million and EUR 280 million. We further continue to expect the Group's normalized EBITDA (excl. the effects resulting from the amended lease accounting to IFRS 16 applicable as of April 2019) to come in at a negative medium double-digit million amount.For the current financial year 2021, we expect again a consolidated revenue between EUR 260 million and EUR 280 million. This revenue forecast reflects the expected negative impact of COVID-19. Since December 2020 GERRY WEBER has been exposed to new burdens due to the coronavirus crisis. In light of these, the Group's normalized EBITDA (excl. the effects resulting from the amended lease accounting to IFRS 16 applicable as of April 2019) for 2021 is expected to substantially improve but still come in at a negative low double-digit million amount.GERRY WEBER further expects that, based on the planned performance targets in line with its previous 2023 outlook, GERRY WEBER should be able to meet its financial obligations, successfully refinance outstanding debt and be in position to start paying out dividends by the end of 2023.About GERRY WEBER GroupGERRY WEBER International AG, headquartered in Halle / Westphalia represents with roughly 2,600 employees one of the largest Fashion- and Lifestyle companies in Europe. The organization distributes modern-classic mainstream womenswear in over 60 countries. GERRY WEBER Group consists of the eponymous brand GERRY WEBER, the young brand TAIFUN and the plus-size brand SAMOON. For further Information, visit our website: www.gerryweber.comPress Contact: Kristina SchützeHead of Corporate Communications / Press SpokeswomanPhone: +49 (0)5201 185 320Mobile: +49 (0)172 577 54 36Email: kristina.schuetze@gerryweber.comInvestor Relations Contact: Dr. Andrea RolveringInvestor RelationsMobile: +49 (0)157 57103411Email: andrea.rolvering@gerryweber.com18.02.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at 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: ir@gerryweber.com Internet: http://group.gerryweber.com ISIN: DE000A255G36 WKN: A255G3 Listed: Regulated Market in Dusseldorf, Frankfurt (General Standard) EQS News ID: 1169441 End of News DGAP News Service