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

04/30/2021 | 06:54am EDT
DGAP-News: Gerry Weber International AG / Key word(s): Annual Report/Annual Results 
Gerry Weber International AG: Revenues and EBITDA of GERRY WEBER reach forecast levels in FY 2020 
2021-04-30 / 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: 
In 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 
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 Group 
Headquartered 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 contact 
Kristina Schütze 
Head of Corporate Communications / Press Officer 
Tel: +49 5201 185 320 
Mobile: +49 172 577 5436 
E-mail: Kristina.Schuetze@gerryweber.com 
Investor relations contact 
Dr. Andrea Rolvering 
Investor Relations 
Mobile: +49 157 57103411 
Mail: andrea.rolvering@gerryweber.com 
2021-04-30 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 
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 

1191270 2021-04-30

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(END) Dow Jones Newswires

April 30, 2021 06:53 ET (10:53 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
ANALOGUE HOLDINGS LIMITED 2.63% 1.95 End-of-day quote.54.76%
DJ INDUSTRIAL 0.20% 33945.58 Delayed Quote.10.69%
GERRY WEBER INTERNATIONAL AG 0.00% 17.7 Delayed Quote.-11.06%
SCHINDLER HOLDING AG 1.36% 268.4 Delayed Quote.11.07%
TOTALENERGIES SE 0.61% 40.205 Real-time Quote.13.20%
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Sales 2020 278 M 332 M 332 M
Net income 2020 -65,5 M -78,2 M -78,2 M
Net Debt 2020 137 M 164 M 164 M
P/E ratio 2020 -0,34x
Yield 2020 -
Capitalization 21,6 M 25,7 M 25,8 M
EV / Sales 2019 0,32x
EV / Sales 2020 0,58x
Nbr of Employees 2 300
Free-Float 100,0%
Duration : Period :
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Technical analysis trends GERRY WEBER INTERNATIONAL AG
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Income Statement Evolution
Mean consensus HOLD
Number of Analysts 1
Last Close Price 17,70 
Average target price
Spread / Average Target -
Managers and Directors
Angelika Schindler-Obenhaus Chief Executive Officer
Florian Frank Chief Financial Officer
Tobias Moser Chairman-Supervisory Board
Charlotte Weber-Dresselhaus Member-Supervisory Board
Olaf Dieckmann Member-Supervisory Board
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