Van de Velde turnover decreases by 5.1 percent

Van de Velde reported a comparable turnover of 116.2 million euros, a decrease of 5.1 percent for the first six month period.

The company said in a statement that the comparable turnover of the D2C segment reached 28.3 million euros, up 11.1 percent, while the comparable turnover of the B2B segment amounted to 87.9 million euros, down 9.4 percent versus last year.

Commenting on the first half results, Van de Velde CEO Karel Verlinde said: “During this challenging spring for the fashion industry, we managed to sharpen our market position. The sales in the D2C segment continue to grow consistently thanks to our marketing activation. Firm control of working capital leads to a growth in cash position.”

The company’s comparable EBITDA for the period under review amounted to 31.9 million euros, a decrease of 15.1 percent, while the net group profit amounted to 19.7 million euros, a decrease of 10.6 percent.

Commenting on the outlook, the company added that the strong market position of its brands PrimaDonna and Marie Jo in both the Benelux and Germany provides a strong foundation for the future with the launch of the Sarda brand off to a promising start.