GERRY WEBER started well into the new financial year 2013/14
- Sales revenues climb 3.0% to EUR 190.4 million in the first quarter of the financial year 2013/14
- Retail revenues rise by 14.1% to EUR 97.7 million in the first three months of the current financial year
- Like-for-like Retail revenues up by 3.2 %
In the first quarter of 2013/14, sales revenues of GERRY WEBER International AG were up by 3.0% on the prior year quarter to EUR 190.4 million. This growth is primarily attributable to the increased sales contribution made by the company-managed Retail stores opened in the past two fiscal years as well as to a 3.2% improvement in like-for-like sales.
The company’s own Retail operations contributed EUR 97.7 million to total revenues. This is equivalent to a share of 51.3% in total group sales. The Wholesale sales revenues declined by 6.7% to EUR 92.7 million.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) were up by 4.9% on the previous year to EUR 24.3 million in the first quarter of 2013/14. As a result, the EBITDA margin rose moderately from 12.5% to 12.8%.
Taking into account the slightly increased depreciation, which is mainly attributable to the Retail expansion, operating result (EBIT) rose to EUR 18.3 million in the first quarter of the current financial year after 17.8 million in the year before. At 9.6%, the EBIT margin remained unchanged from the prior year quarter.
Besides higher depreciation the margin was primarily impacted by the shift in the winter discount campaigns from the second to the first quarter.
The net income after tax for the first quarter of 2013/14 amounted to EUR 11.6 million (Q1 previous year: EUR 11.5 million). Based on an unchanged number of shares, earnings per share amounted to EUR 0.25 (Q1 previous year: EUR 0.25).
Against the background of the positive development of the Retail segment, the improvement in Wholesale customers’ ordering activity for the second half of our fiscal year as well as our ongoing expansion strategy, we expect both sales revenues and earnings to increase in the coming months. Accordingly, we confirm our sales and earnings forecast issued at the end of January 2014 of at least EUR 900 million in sales revenues and at least EUR 120 million in EBIT.