Uscita la trimestrale di Gerry Weber :
September 23, 2010
GERRY WEBER relies on higher fashion degree and ongoing internationalisation
- TAIFUN and SAMOON back to success after sharp increase in incoming orders
- EBIT margin target of 15 percent set for next three years
- Retailers achieve good margins with GERRY WEBER-brands
(Halle/Westphalia, 23 Sept. 2010) The GERRY WEBER Group once again reported new records for the first nine months of 2009/2010. At EUR 432.3 million, Group sales were up by 5.0 percent on the previous year. All earnings figures increased at a disproportionate rate. “The consistent modernisation and streamlining of our collections have paid off. Our fashion now has a much sharper profile and caters even more effectively to the needs of consumers. At the same time, we have become even more profitable,” CEO Gerhard Weber commented on the excellent results. The fashionable design resulted in greater customer acceptance, which is also reflected in incoming orders – both in Germany and abroad – for the first and second collection of the spring/summer 2011 season. At EUR 194.9 million, they were up by 9.5 percent on the previous year’s EUR 178.0 million. Orders for the GERRY WEBER core brand improved by 10.2 percent to EUR 144.7 million, while orders for TAIFUN rose by 8.5 percent to EUR 38.3 million. SAMOON by GERRY WEBER reported a 4.4 percent increase to EUR 11.9 million. “TAIFUN and SAMOON are clearly picking up again,” Gerhard Weber added. “The two brands already benefit from the new, clear signature of the collections.” As the next collections are still pending, the total increase in incoming orders will be double digit. The Wholesale segment meanwhile has an export share of more than 50 percent.
In the first nine months of 2009/2010, Group sales in Germany and abroad improved from EUR 411.9 million to EUR 432.2 million, which represents an increase of 5.0 percent. The company’s own Retail segment, which comprises the 165 company-managed HOUSES OF GERRY WEBER, the concession shops and the GERRY WEBER eShop, generated sales of EUR 124.7 million, up 22.4 percent on the previous year’s EUR 101.9 million.
Thanks to consistent cost management, the GERRY WEBER Group again boosted its earnings at a disproportionate rate. In the first nine months of 2009/2010, earnings before interest, taxes, depreciation and amortisation (EBITDA) climbed from EUR 49.5 million to EUR 54.7 million, which represents a 10.4 percent increase. At EUR 46.0 million, earnings before interest and taxes (EBIT) were up by 15.8 percent on the previous year’s EUR 39.7 million. Earnings before taxes (EBT) climbed 20.4 percent from EUR 36.2 million to EUR 43.6 million. The respective margins increased accordingly. Net income for the period rose by 13.3 percent from EUR 25.2 million in the previous year to EUR 28.6 million. Based on 20,817,242 shares outstanding, DVFA earnings per share amounted to EUR 1.37.
The GERRY WEBER Group intends to continue its fast growth in the current fiscal year. The excellent performance in the first nine months of 2009/2010 confirms the company’s sales and earnings projections for the full year. Group sales will increase to approx. EUR 620 million, while the EBIT margin will rise to 13 percent. These expectations are based on the ongoing expansion of the Retail segment, with about 47 new store openings planned in the full fiscal year, many of them outside Germany. In the full fiscal year 2009/2010, some 70 to 80 company-run and franchisee-managed HOUSES OF GERRY WEBER will be opened. The marked rejuvenation of the collections, which feature a clear and consistent signature across all three Group brands, and the fact that retailers achieve good margins with these three brands will also have a positive impact on sales. The company aims to return to double-digit sales growth and to increase its EBIT margin to 15 percent in the next two to three years.
Going forward, the company intends to accelerate its internationalisation and is planning its expansion in Asia, the Middle East and in the North American market. “We increasingly see ourselves as a global player and will broaden our international basis. Internationally, we will operate with great circumspection and have the stores mostly managed by partners that have an excellent knowledge of the local market,” the CEO concluded. “We also intend to expand our activities in France, Switzerland and Italy and continue to strengthen our presence in the Middle East.” Eight HOUSES OF GERRY WEBER already exist in Italy. In Egypt, the third HOUSE OF GERRY WEBER is scheduled to be opened in Cairo in spring 2011.
The expansion of the concession shops will also be pushed ahead; the number of concession shops at El Corte Inglés, Spain, will be expanded from 25 to approx. 40.
The GERRY WEBER Group sees itself as a close partner to the retail sector and will continue to expand its Wholesale activities. Some 200 new shop-in-shops are planned in the current fiscal year. At the same time, the company intends to expand cooperations with domestic and international retailers under maximum order limit arrangements. The mark-up for retailers signing up for such arrangements is two percentage points higher on average than the mark-up for retailers that do not use maximum order limit arrangements. The company therefore aims to work on the basis of maximum order limit arrangements with two thirds of its customers within the next few years.
Link al pdf :
http://www.gerryweber-ag.de/en/presse/pdf/pr264_Press_Release_Q3_2010_kennw.pdf