Gerry Weber has announced preliminary figures for the 2021 financial year. According to these preliminary figures, earnings before interest, taxes, depreciation and amortization (EBITDA) will be between €25M and €30M, significantly exceeding the original forecast of a negative figure in the low double-digit millions.
Even without the income statement of the
bridging aid III of €29.1M, the Ebitda (without taking into account the effects
of lease accounting for rents according to IFRS 16) will be above the forecast
of a negative low double-digit million amount. Based on these preliminary
figures, the company generated consolidated sales at the lower end of the
forecast range of €260M to €280M in the 2021 financial year and thus met the
sales forecast.
Taking into account the interest rate and valuation environment in which the
company operates, a revaluation is required as part of lease accounting in the
2021 financial year, which also has repercussions on the 2020 comparative
period. For the 2020 financial year, the Group expects a reduction in the
value for lease accounting in fixed assets and liabilities in the mid
double-digit million range.
Group sales will not be affected by the changes in either 2020 or 2021 and group EBITDA will only be slightly affected. Against the background of the ongoing corona pandemic and the unforeseeable further development of the Russia-Ukraine conflict, the Management Board intends to comment further on the previous forecast for the 2022 financial year when the final business figures for the 2021 financial year are published on 29 April.
