Ad-hoc announcement pursuant to section 17 MAR

Promissory note loan providers of GERRY WEBER grant deferment of outstanding loan receivables until January 2019

(Halle/Westphalia, 13 November 2018) The outside creditors of GERRY WEBER International AG, with outstanding loan receivables due on 5 November 2018, have come to an agreement with the group over a deferment of outstanding loan receivables. The deferment agreements remain valid until the end of January 2019 and are yet another substantial partial step in the comprehensive restructuring measures of the company. In parallel, the financing banks keep their credit lines open for GERRY WEBER.

In face of the initiated transformation process as well as the first analysis of the developments in the fourth quarter of the just finished financial year 2017/18 (31 October), the Managing Board of GERRY WEBER International AG reviewed and adjusted the current earnings and profit forecast: The Managing Board now expects sales of up to 790 EUR million (previously: between 830 and 840 EUR million) and significant operational losses on earnings before interest and taxes (EBIT) (previously: between -10 and 0 EUR million). The EBIT deficit will be largely shaped by accruals for personnel related measures and store closures, as well as extraordinary depreciation and impairments.

The Managing Board

Notifying Person:
Jörg Stüber
Direktor Finanzen
Tel.: +49 5201 185-8914
Joerg.Stueber@gerryweber.com