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Gerry Weber sales and earnings decline in FY20

By Prachi Singh

Apr 30, 2021

In the fiscal year 2020, Gerry Weber International AG generated consolidated sales revenues of 278.2 million euros, which the company said, is at the upper end of the range of 260 million euros to 280 million euros projected in March 2020.

Gerry Weber’s total earnings decline in FY20

The company said in a release that domestic revenues of the Gerry Weber Group amounted to 157.8 million euros, equivalent to 56.7 percent compared to 59 percent in the previous year. The company’s retail segment reported revenues of 159.2 million euros compared to 210.4 million euros in the previous year. The segment’s share in total group revenues thus declined to 57.2 percent.

Total online revenues amounted to 27.4 million euros, around 10 percent of the group’s total revenues. Sales revenues in the Gerry Weber wholesale segment amounted to 119 million euros compared to 120.1 million euros.

The company added that normalised EBITDA stood at negative 40.8 million euros in the fiscal year 2020 as a result of the pandemic-related Europe-wide closures. EBITDA reported stood at negative 2.5 million euros. The group’s reported EBIT amounted to negative 51.7 million euros, while adjusted normalised consolidated EBIT amounted to negative 57.1 million euros in 2020 and the normalised EBIT margin to negative 20.5 percent.

The Gerry Weber Group’s financial result deteriorated from negative 8.5 million euros to negative 14.3 million euros in the reporting period. After deduction of income taxes, the consolidated net loss for the fiscal year amounted to 65.4 million euros compared to previous year’s consolidated net income of 119.3 million euros. Earnings per share amounted to negative 58.12 euros compared to earnings of 105.96 euros.

Gerry Weber expects to return to profitability in 2021

At this stage, the company expects the situation regarding retail openings in its German core market to gradually return to normal as of mid-year. The company expects revenues for the fiscal year 2021 to also come in at between 260 million euros and 280 million euros.

The company added that its managing board nevertheless believes that it will be possible to improve the company’s profitability and to generate normalised consolidated EBITDA in a low negative double-digit million range in 2021. In e-commerce, the plans envisage a significant increase in sales of 20 percent per year in the medium term.