Gerry Weber International AG publishes preliminary results for financial year 2017/18
Ad-hoc announcement pursuant to section 17 MAR
GERRY WEBER International AG publishes preliminary results for financial year 2017/18
(Halle/Westphalia, 7.12.2018) After a first review, the Executive Board of GERRY WEBER International AG published the preliminary results for the financial year 2017/18 (October 31), today. According to the first review, group sales reached about EUR 795 million in the financial year 2017/18. Consequently, sales were slightly above the most recent prognosis of EUR 790 million and about 10% below the previous year of EUR 880.9 million. The Group's operating result before interest and taxes (EBIT), excluding non-cash provisions for restructuring measures, extraordinary depreciation and write-downs as well as consulting costs shows the anticipated significant loss of EUR 15.5 million (previous year: EUR +19.9 million). Overall, as expected and announced, EBIT was impacted by non-cash provisions for restructuring measures and consulting costs of EUR 63.3 million, as well as extraordinary depreciation and write-downs of EUR 69.3 million, resulting in a loss of EUR 148.1 million (previous year: EUR +10.3 million).
Key measures of the Future Concept, which will primarily shape the final Annual Financial Statement 2017/18, are among others:
- Closure of around 230 retail spaces, as well as
- corresponding significant reduction of workforce, both nationally and internationally, including positions in our stores and retail spaces, as well as in centralized functions including logistics.
All provided figures are preliminary. GERRY WEBER International AG plans to publish the Annual Financial Statement 2017/18, as previously announced, on 28 February 2019.
The Managing Board
Notifying Person: Jörg Stüber Direktor Finanzen Phone: +49 5201 185-8914 Joerg.Stueber@gerryweber.com
07-Dec-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Gerry Weber International AG Neulehenstraße 8 33790 Halle/Westfalen
Germany Phone: +49 (0)5201 185-0 Fax: +49 (0)5201 5857 E-mail: firstname.lastname@example.org Internet: www.gerryweber-ag.de ISIN: DE0003304101 WKN: 330410 Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; SIX, Vienna Stock Exchange End of Announcement DGAP News Service
755693 07-Dec-2018 CET/CEST