Van de Velde FY18 turnover decreases by 1.8 percent

For the fiscal year of 2018 the reported turnover, Van de Velde said, decreased by 1.8 percent to 205.2 million euros (233.4 million dollars). At constant exchange rates, the company added, this amounts to a decrease of 0.8 percent. On a comparable basis, the consolidated REBITDA decreased by 28.2 percent from 53.5 million euros (60.8 million dollars) to 38.4 million euros (43.6 million dollars), while REBITDA decreased by 33.1 percent to 37.2 million euros (42.3 million dollars).

The company’s wholesale turnover on comparable basis decreased by 0.6 percent at constant exchange rates. Van de Velde said, a decrease in lingerie was largely compensated by growth in the swim collection by the strong start of Marie Jo Swim, while taking the negative exchange rate effect into account on the one hand and the positive effect of higher deliveries of the spring/summer collection, the reported turnover decreased by 1.6 percent.

Retail turnover on like-for-like store basis at constant exchange rates increased by 2.5 percent due to 5.1 percent growth in Europe and a 3 percent decline in the US. Taking the negative exchange rate effect and the effect of closure of onerous shops into account, reported turnover increased by 0.3 percent. Pre-tax profit decreased to 29.1 million euros (33 million dollars).

The company added that for the financial year of 2018, its board of directors will propose a dividend of 1.03 euros (net dividend of 0.72 euro), which after approval by the general meeting of shareholders, will be paid out as from May 6, 2019.

Picture:Facebook/Marie Jo Lingerie