GERRY WEBER International AG announced consolidated earnings results for the third quarter and nine months of year 2018. For the quarter, the company reported sales revenue of EUR 170.4 million as compared to EUR 192.3 million for the same period last year. LBITDA was EUR 1.3 million as compared to EBITDA of EUR 6.1 million for the same period last year. Adjusted EBITDA was EUR 3.3 million as compared to EUR 6.5 million for the same period last year. LBIT was EUR 13.0 million as compared to EUR 5.8 million for the same period last year. Adjusted LBIT was EUR 7.1 million as compared to EUR 4.7 million for the same period last year. Net loss for the period was EUR 10.8 million as compared to EUR 5.1 million for the same period last year. Loss per share was EUR 0.24 as compared to EUR 0.11 for the same period last year.

For the nine months, the company reported sales revenue of EUR 575.1 million as compared to EUR 620.1 million for the same period last year. EBITDA was EUR 24.2 million as compared to EUR 35.1 million for the same period last year. Adjusted EBITDA was EUR 31.0 million as compared to EUR 36.1 million for the same period last year. LBIT was EUR 9.8 million as compared to EBIT of EUR 0.2 million for the same period last year. Adjusted LBIT was EUR 1.6 million as compared to profit of EUR 2.3 million for the same period last year. Net loss for the period was EUR 10.7 million as compared to EUR 3.4 million for the same period last year. Loss per share was EUR 0.23 as compared to EUR 0.08 for the same period last year. Cash flow from operations improved to EUR 9.3 million, whereas the comparable number a year ago was EUR 8 million.

The company provided earnings guidance for the full year of fiscal 2018. The managing board of the company has essentially confirmed the forecast for the financial year 2017/2018. Despite the ambitious nature of reaching the sales target of EUR 830 to EUR 840 million, the group continues to expect to reach the group EBIT target of minus EUR 10 to EUR 0 million. This figure contains already the previously mentioned one-off expenses of about EUR 15 million.