DGAP-News

Gerry Weber International AG: Revenues and EBITDA of GERRY WEBER reach forecast levels in FY 2020 - Seite 3

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 stock.

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.