DGAP-News

Gerry Weber International AG: Revenues and EBITDA of GERRY WEBER reach forecast levels in FY 2020 - Seite 2

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).