Gerry Weber FY EBITDA rises

Fashion retailer Gerry Weber International said its annual earnings before interest, taxes, depreciation and amortisation or EBITDA rose by 5.3 percent year-over-year to 134.2 million euros from 127.4 million euros, corresponding to an increase of the EBITDA margin from 15.0 percent to 15.7 percent.

Full-year earnings before interest and taxes or EBIT climbed 2.9 percent to 108.9 million euros in spite of increased depreciation and amortisation. According to preliminary figures, the firm generated sales revenues of 852.1 million euros and earnings before interest and taxes or EBIT of 108.9 million euros in the fiscal year 2013/14. This means that the company did not quite reach the targets it had set itself. At 852.1 million euros, sales revenues remained almost flat from the prior year's 852.0 million euros.

This was due to the lower-than-expected revenues of the Wholesale segment as well as the challenging market conditions for the own retail business especially during the fourth quarter of the fiscal year. (DPA)