Van de Velde turnover increases by 4.3 percent

Van de Velde turnover on a comparable basis increased by 4.3 percent in the first six months of 2023 to 122.5 million euros.

The company said in a statement that the reported turnover increased more sharply by 5.5 percent to 120.6 million euros.

Commenting on the results, the company’s CEO Karel Verlinde said: “In a volatile economic environment, Van de Velde continued to invest in strengthening its brands and its organisation. In doing so, we managed to grow sales in both the B2B and B2C segment. This was realised with a strong growth in net cash position.”

The company’s comparable EBITDA amounted to 37.6 million euros, a slight decrease of 0.6 percent and corresponded to 30.7 percent of the comparable turnover.

The net group profit of the period amounted to 22 million euros, a decrease of 4 percent.

Van de Velde also announced the appointment of Wim Schelfhout as chief financial officer as of November 1, 2023.

Schelfhout, the company added, holds a degree in commercial engineering from KU Leuven and a Masters in finance and accounting from the EHSAL Management School.

He started his career in 2003 at Honeywell and held several financial positions. In 2017, Schelfhout became finance manager at Etex and in 2020 chief financial officer at Lamifil.