Thursday 7 April 2016

Gerry Weber annual report 2015

Gerry Weber, annual, 2015, front page

Here is the first big ball dropper for 2016! Not only have Gerry Weber arrived with the annual report but they are also out with the Q1 report for 2016 so well... the next three articles will be Gerry Weber related... on the day of the release I have of course no clue concerning the share price movement but Gerry Weber has not been doing well. Fascinating is it though that Ralf previously bought shares when it was at 25 to 30 € and have now completely stopped. I hope it is because his position is not to be treated as inherited and therefore also permanent and that he have started to realise this. But what do I know...

To see the report in full please go here to take a look at the previous summary then please click on Gerry Weber report Q2 2015 and to find out more regarding Gerry Weber please visit analysis of Gerry Weber 2015 (a new one will arrive shortly).

If we take a look at the financial statement below then we see that revenue was the year was good BUT this comes only from that they bought Hallhuber and excluding that for nine out of the twelve months then the year revenue would have been down. From that there were of course also several increased cost such as salaries etc. but the good thing, and it is probably the only one, was they have managed to control their material costs very well. In the end we shareholder received less out in comparison to 2014 since we only got 1.14 € per share but in my world these days... if a company shows earnings then that makes me celebrate... and that is sad to say the least.

Gerry Weber, 2015, financial statement

Conclusion: Gerry Weber and Hallhuber did not have a good year together. Without the take-over of Hallhuber then the year would have been seriously bad and the new management team needs to get their shit together to move this forward. I am not very impressed by Ralf as of yet especially since I made the mistake of following him into the business at the wrong moment. I will remain as a grumpy shareholder.

Off-topic: One of their competitors Steilmann, that had their IPO around five months ago, had to file for bankruptcy very recently due to, in my opinion, incompetent CEO that pushed over-expansion and obviously have no respect for shareholders whose money he now burnt. Steilmann was going after a similar clientèle to Gerry Weber so hopefully this will bring back some business.

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