Home / Knowledge / News / Apparel/Garments / Van de Velde turnover stays flat in 2013
Van de Velde turnover stays flat in 2013
24
Feb '14
Van de Velde announced its annual results for 2013. Van de Velde realised consolidated turnover growth of 0.4% (from € 181.8m to € 182.4m). 
 
Highlights: 
-Consolidated turnover and recurring EBITDA are in line with last year thanks to a strong catch-up in the second half. 
-The board of directors will propose to the general meeting of shareholders maintaining the dividend at € 2.15 per share. 
-This confirms the confidence of the company in its growth and cash generation.  
 
The following aspects drove this development: 
 -A stable wholesale turnover versus the same period last year: in the first half, there was a decline of 2.0%, in the second half there was an increase of 2.2%. 
-A fall in the retail turnover of Intimacy of slightly over 12% in local currency. The like-for-like fall slowed down in the second half of the year (4.8%) compared to the first six months (11%). 
-The retail turnover of Rigby & Peller in the UK grew by 0.6% in local currency and decreased by about 4% in euro due a weaker British pound. 
-An increase of 13.5% in the retail turnover at Rigby & Peller (the former Oreia) in Continental Europe, thanks to a like-for-like growth in Germany (6.5%) and a number of new stores (Cologne, Munich, 
Copenhagen). 
-The retail turnover at Donker stores in the period April-December 2013 contributed € 3.5m
 
REBITDA-DEVELOPMENT 
Consolidated REBITDA was € 48.7m, which is in line with the previous year’s figure. Performance improved significantly in the second half of the year. After six months, REBITDA was 9% down on the previous year. 
 
This is primarily due to the following factors: 
 -Turnover growth. 
-A higher gross margin in wholesale on an annual basis compared to the previous year, mainly due to a positive price impact and lower stock depreciations. Both are offset to some degree by a negative currency impact. 
-Strict cost constraints ensured that cost rises were limited without threatening strategic projects. 
 
The retail division’s total EBITDA contribution was lower than in 2012, mainly due to the less strong performance of Intimacy. The EBITDA contribution of all other retail chains (Europe, United Kingdom, Far East) increased.  
 
Click here to view full results.

Van de Velde

Must ReadView All

Textiles | On 31st May 2016

FICCI forecasts 7.7% GDP growth for Indian economy in FY17

The results of latest round of the Federation on Indian Chambers of...

Apparel/Garments | On 31st May 2016

China to open e-commerce to foreign investment

In a major policy decision, China has decided to lift restrictions to ...

Courtesy- DyStar

Textiles | On 31st May 2016

DyStar launches Cadira Polyester for resource efficiency

DyStar Group, solution provider offering a complete range of...

Interviews View All

Veronique Lee
Modavanti

Sustainable fashion is not necessarily pocket- friendly. Are consumers...

Siddharth Biyani
Mangalam Industries Pvt Ltd

How is the man-made fibre (MMF) industry shaping up? How is Mangalam...

Frank Gossmann
Rotorcraft AG

What new innovations did Rotorcraft exhibit at the recent textile...

Johan Berlin
InvestKonsult Sweden AB

<i><b>Investkonsult Sweden AB has been buying and selling second-hand...

Ashok Desai
Bombay Textile Research Association

<b><i>Bombay Textile Research Association (BTRA) is a leading name in...

Giorgio Mantovani
Corman S.p.A

<b><i>Giorgio Mantovani, MD of Corman, with a presence in both Milano and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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
May 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search