Compared to the previous year, the 2021 revenue rose by almost 15 percent to around 1.56 billion euros, as the company announced on Tuesday in Luxembourg. However, the net loss increased at the same time from 112.4 to 124.8 million euros. At EUR 13.6 million, the adjusted operating result was around 17 percent lower than in 2020.
The management did not dare to give a concrete outlook for 2022 because of the war in Ukraine. Due to the uncertain situation in the “Commonwealth of Independent States” (CIS/CIS) region, it was said that no forecast could be made for the current year. In the other three regions, demand should remain at the level of the second half of 2021 and improve with a view to the second half of the year.
Global Fashion Group also employs numerous people in Ukraine. “Our priority is to support our 1,000 employees in Ukraine with the necessary financial and humanitarian means,” said the company’s two bosses, Christoph Barchewitz and Patrick Schmidt.
Via XETRA, GFG papers temporarily rose by 18.45 percent to EUR 1.94.
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