DGAP-News

Gerry Weber International AG: GERRY WEBER International AG strengthens liquidity - Seite 2

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 Group
GERRY 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.com

Press Contact:
Kristina Schütze
Head of Corporate Communications / Press Spokeswoman
Phone: [phone]
Mobile: [phone]
Email: [e-mail]

Investor Relations Contact:
Dr. Andrea Rolvering
Investor Relations
Mobile: [phone]
Email: [e-mail]

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18.02.2021 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.