Gerry Weber International AG: Loss of half of the registered share capital

Insider Information (Ad-Hoc Press Release) pursuant to Article 17 MAR

GERRY WEBER International AG: Loss of half of the registered share capital

(Halle/Westphalia, 13 May 2022) – In the course of the audit of the Company’s financial accounts for fiscal year 2021, the Management Board of GERRY WEBER International AG has determined a loss of EUR -5,078k which constitutes the loss of half of the registered share capital of GERRY WEBER International AG.

The loss is primarily caused by the assumption of the loss of EUR -29,393k of GERRY WEBER Retail GmbH based on the profit and loss transfer agreement between the Company and GERRY WEBER Retail GmbH and by the depreciation and amortization of investment book values due to lower profitability expectations of the subsidiaries of GERRY WEBER International AG in an amount of EUR -5,282k. The high losses sustained by GERRY WEBER Retail GmbH are attributable not only to the closure of retail stores due to the 2-year COVID-19 pandemic, but also to provisions for impending losses for individual stores in an amount of EUR -10,174k and to a negative effect of the merger of TB Fashion GmbH with GERRY WEBER Retail GmbH in an amount of EUR -6,397k.

GERRY WEBER International AG continues to expect that the preliminary figures at group level, which were published on 31 March 2022, will in essence remain unchanged in the audited consolidated accounts for fiscal year 2021. Also, the Company still expects the annual results for 2021 and the results for the first quarter 2022 to be published on 30 May 2022.

The Management Board will convene a general meeting without undue delay in order to notify the loss of half of the registered share capital to the shareholders.

The Management Board

Communicating person:
Florian Frank
Member of the Managing Board
Tel.: +49 5201 185-140
ir@gerryweber.com