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Gerry Weber International AG publishes preliminary results for financial year 2017/18

12/07/2018

Gerry Weber International AG publishes preliminary results for financial year 2017/18

Gerry Weber International AG / Key word(s): Annual Results/Preliminary Results
Gerry Weber International AG publishes preliminary results for financial year 2017/18

07-Dec-2018 / 16:19 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


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.
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