Van de Velde reports strong improvement in H1 sales and Ebitda

On a comparable basis, consolidated turnover at Van de Velde increased during the first half of 2021 by 16.5 percent to 96.6 million euros, while the reported turnover increased by 32.1 percent to 97.6 million euros.

The company’s comparable wholesale turnover increased by 15.8 percent to 83.7 million euros and the retail turnover grew by 21.3 percent to 12.9 million euros.

In Europe, the company said in a release, retail turnover increased by 16.4 percent and in the United States by 64 percent. The stronger results in the United States reflect that there were no lockdowns in 2021 compared to prolonged lockdowns in 2020.

On a comparable basis including comparable seasonal deliveries, consolidated EBITDA for the first half increased by 30.6 percent to 29.1 million euros. The EBITDA on a non-comparable basis increased by 82.6 percent to 29.8 million euros. The EBITDA on a comparable basis amounted to 30.1 percent of the turnover compared to 26.8 percent during the first half of 2020.

The company added that the financial result during the first half of 2021 amounted to negative 0.8 million euros compared to 0.2 million euros during the first half of 2020. The group profit ended at 18.2 million euros compared to 5 million euros in the first half of 2020.