Gerry Weber International AG announced consolidated earnings results for the second quarter and first half of 2018. Consolidated revenues and EBIT decline in first half of 2018. Earnings before interest, taxes, depreciation and amortisation (EBITDA) dropped by 11.8% from EUR 28.9 million in the prior year period to EUR 25.5 million, which was primarily influenced by the sharp decline in earnings in the first three months. The operating result (EBIT) declined by 46.7% to EUR 3.2 million in the first half of the financial year compared to EUR 6.0 million a year ago. Net income for the period was 0.1 million compared to 1.7. Net financial debt was 202.3 million.

In the second quarter alone, EBITDA picked up by 32.3% to EUR 17.6 million due to the increasingly positive effects of FIT4GROWTH compared to EUR 13.3 million previous year.

The Managing Board confirmed the forecast for current financial year 2017/18 revised to reflect extraordinary charges resulting from the Performance Programme: Expected revenues of EUR 830 to 840 million and expected EBIT of EUR negative 10 to 0 million.