Van de Velde 2021 turnover increases by 19.1 percent

On a comparable basis including comparable seasonal deliveries, the consolidated turnover at Van de Velde increased in 2021 by 19.1 percent from 160.5 million euros to 191.2 million euros. The company said, reported turnover increased by 28.2 percent to 195.3 million euros.

Commenting on the company’s performance, Van de Velde CEO Marleen Vaesen said: “2021 was an outstanding year for Van de Velde, despite a difficult start caused by Covid. We are very proud of our results with a strong growth in turnover and EBITDA. Van de Velde has a strong basis to achieve further growth. We look forward to the future with confidence, and we will continue to invest in our brands, retail partners, optichannel strategy and supply chain to realize further growth.”

The company’s comparable wholesale turnover increased by 18.4 percent to 163.6 million euros and the retail turnover grew by 23.7 percent to 27.6 million euros. In Europe, the retail turnover increased by 17.8 percent and in the United States by 49.4 percent.

The company added that in both segments, wholesale and retail, lingerie sales recovered strongly and even grew compared to 2019 driven by a strong performance in the second half of the year, while swim sales have not yet recovered due to uncertainties and restrictions related to travelling in spring 2021.

On a comparable basis, the consolidated EBITDA for 2021 increased by 30.3 percent, from 40.1 million euros in 2020 to 52.3 million euros in 2021. The EBITDA on a non-comparable basis increased by 58.4 percent from 34.7 million euros in 2020 to 55 million euros in 2021. The financial result in 2021 amounted to negative 1 million euros compared to negative 0.3 million euros in 2020.

For the financial year 2021 the company’s board of directors has proposed to pay a dividend of 2 euros per share.