Van de Velde posts marginal turnover decline

On a comparable basis, the consolidated turnover at Van de Velde rose 0.3 percent in 2023 to 212.1 million euros, while the reported turnover decreased 0.2 percent to 211.3 million euros.

The company’s EBITDA in 2023 declined by 2.3 percent to 56.6 million euros and the reported EBITDA decreased by 3.7 percent to 56.1 million euros. The financial result amounted to negative 0.3 million euros compared to negative 1.3 million euros in 2022.

In the B2B segment, Van de Velde said in a release, the comparable turnover decreased by 2.3 percent to 164.3 million euros and in the D2C segment, there was an increase of 10.6 percent in comparable turnover to 47.8 million euros.

In the first half of the year, the company saw a sales growth of 4.3 percent driven by the resurgence in swim sales. This growth, the company added, outpaced lower lingerie sales due to high inventory levels with its retail partners at the end of 2022.

In the second half of the year, sales ended at 89.6 million euros, down 4.6 percent compared to the second half of 2022.

For the financial year 2023, the company’s board of directors has proposed to pay a dividend of 2.40 dollars per share. On March 1, 2023, the board approved a share buy-back program for a maximum amount of 15 million euros, which will come to an end on March 1, 2024.