Home / Knowledge / News / Apparel/Garments / Billabong International FY'13 sales down 13.5%
Billabong International FY'13 sales down 13.5%
27
Aug '13
Billabong International Limited announces its full year financial results for the 12 months ended 30 June 2013.

Overview

-Net Loss after Tax of $859.5 million (after $867.2 million of predominately noncash significant items) for the year ended 30 June 2013

- Adjusted EBITDAI of $72.6 million - down $14.3 million in reported and in constant currency terms on the previous corresponding period (“pcp”).

- Adjusted EBITDAI is before significant items and after excluding Nixon from the prior year

- Australasia and Americas full year Adjusted EBITDA were both ahead of the pcp driven by restructuring initiatives

- European trading conditions remain weak and further impacted by $7.6 million of start-up losses for SurfStitch Europe

- Refinancing nearing final stages as key focus returns to rebuilding the business and reinvigorating a world class portfolio of brands

Reported Earnings

Global sales revenue of $1,340 million was down 13.5% in reported terms (down 12.6% in constant currency terms) on the pcp. Billabong incurred a Net Loss after Tax for the year ended 30 June 2013 of $859.5 million.

The result was impacted by $867.2 million of significant items, including $604.3 million non-cash impairment for goodwill, brands and other intangibles (of which $427.8 million was taken at 31 December 2012) and $129.6 million relating to a non-cash write down of its investment in Nixon (of which $106.6 million was taken at 31 December 2012).

Adjusted Earnings

Global sales revenue of $1,340 million was down 6.8% in reported terms (down 5.9% in constant currency terms) on the pcp and after excluding Nixon from the prior year. Adjusted Earnings Before Interest, Tax, Depreciation, Amortisation and Impairment (EBITDAI) was $72.6 million for the Group, a decrease of 16.4% compared to the pcp, after excluding significant items and Nixon from the prior year.

Click here to view full results 

Billabong International

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search