BERLIN (dpa-AFX) - Fashion and lifestyle company Gerry Weber International AG (GRYIF.PK) on Wednesday reported earnings before interest and taxes or EBIT of 0.9 million euros in the first half of the year compared with a loss of 14.2 million euros in the previous-year period, helped by growth in sales.
EBITDA, or earnings before interest, taxes, depreciation, and amortization increased to 19.6 million euros from 7.5 million euros a year ago.
Excluding one-time items, normalised EBITDA was 2.2 million euros compared with loss of 9.2 million euros last year.
The company reported net loss of 12.4 million euros or 10 euros per share in the first half, sharply lower than loss of 24.7 million euros or 20.3 euros per share reported during the same period last year.
Sales increased 48.4% to 157 million euros in the first half from 105.8 million euros in the same period a year ago. Gerry Weber said its online sales grew by about 27.4% to 26.5 million euros.
Looking forward, the company expects full-year normalised EBITDA to be in the negative single-digit million to positive single-digit million range. Net sales for the year is expected between 315 million euros and 340 million euros.
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