-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
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).
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
Apparel/Garments | On 27th Feb 2017
The Government of Myanmar has set up a new committee, replacing an...
Textiles | On 27th Feb 2017
The textile industry is one of the most strategic platforms through...
Textiles | On 27th Feb 2017
KBR, Inc has bagged a technology licensing and basic engineering...
Fashion shows are also encouraging and highlighting sustainable fashion
Narayan Tex Fab
I find it hard to find professionals in Surat
Gem Enviro Management Pvt Ltd
There are no significant differences between virgin yarn and PET recycled...
Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...
Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...
Schlegel und Partner
Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...
Sonam and Paras Modi's Sva Couture is synonymous with head-turning...
Hyderabad-based designer Prathyusha Garimella is known for blending...
Bridal couture created with rich Indian heritage, exquisite craftsmanship...