BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - GERRY WEBER International AG (GRYIF.PK) posted a narrower normalised EBITDA loss in the first half of 2021. The company's stores gradually reopened in full in the course of the second quarter. GERRY WEBER noted that the revenue trend in June was very positive.
For the first half period, net loss was 24.2 million euros compared to a loss of 34.2 million euros, prior year. Loss per share was 19.8 euros compared to a loss of 28.0 euros. Normalised EBITDA was a loss of 10.2 million euros compared to a loss of 22.9 million euros, prior year.
Total net sales were 107.7 million euros, approximately 23.4% below the level of the prior year period. The company's German stores were closed between 1 January and 7 March 2021.
For fiscal 2021, the Managing Board continues to project consolidated net sales of between 260 million euros and 280 million euros. Normalised consolidated EBITDA is anticipated to be improved to a negative low double-digit million figure.
'Although we are currently seeing a recovery in online and physical sales that makes us confident, we do not expect to be able to offset the shortfall in sales incurred at the beginning of the current financial year 2021 in the further course of the year,' said Florian Frank, CFO.
Copyright RTT News/dpa-AFX