Gerry Weber posts sales and earnings growth, raises outlook

During the first six months of 2022, Gerry Weber International AG generated sales of 157 million euros in the first half, an increase of 48.4 percent on the previous year, which the company said was primarily influenced by the Covid-related restrictions.

“The performance following the gradual lifting of all Covid-related restrictions confirms that our customers very much appreciate our ageless collections. The effect is noticeable across all distribution channels,” said Angelika Schindler-Obenhaus, CEO of Gerry Weber International.

Highlights of Gerry Weber Group’s performance

The company’s domestic sales accounted for 48.9 percent of total sales, up from 43.5 percent in the prior year period.

Retail sales picked up by 78.8 percent to 75.8 million euros since the stores remained open throughout the first six months of the year. E-Commerce sales rose by 27.4 percent to 26.5 million euros, in line with the mid-term growth target of at least 20 percent per annum.

The company’s wholesale sales climbed 26.2 percent to 54.5 million euros, up from 43.2 million euros in the previous year.

Gerry Weber posts improved EBITDA, raises outlook

Driven by the positive sales growth, the company added that reported EBITDA increased to 19.6 million euros and the reported EBIT margin stood at 12.5 percent, up from 7.1 percent in the previous year.

The company’s normalised EBITDA improved to 2.2 million euros in the first half of the year and the normalised EBITDA margin amounted to 1.4 percent, compared to negative 8.7 percent in the previous year. The result for the period stood at negative 12.4 million euros compared to negative 24.7 million euros in the prior year period.

In view of the expected successful implementation of further optimisation measures in the current business operations, the managing board of Gerry Weber International AG now projects normalised consolidated EBITDA to be in the negative single-digit million to positive single-digit million range. The forecast for consolidated net sales was raised to between 315 million euros and 340 million euros.