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Fashion retailer Van de Velde posts highest ever EBITDA
02
Sep '14
Van de Velde NV, a retailer of luxury and fashionable women’s lingerie reported its highest-ever recurring EBIDTA in the first six months to June 30, 2014.

Recurring EBITDA for the first half of 2014 at € 34.2 million was up 20.5% from the first half of 2013 and also exceeds the record EBITDA it posted in 2011.

Van de said this was possible due to a rise in wholesale turnover, rise in gross margin of 0.5% and zero increase in fixed costs, except for sales related costs.

Consolidated turnover in the first half of 2014 rose by 10.3% to €107 million from €97 million in the comparable period of 2013, driven mainly by by 13.8% growth in wholesale turnover and higher follow-up orders.

At the end of the first half-year of 2014, cash position at Van de stood at €28.2 million, up from €26.3 million in the first half of last year.

Solvency or share of equity in total equity and liabilities remained very high at 86.7%; Van de Velde informed and added that current assets represent 5.5 times the value of current liabilities.

In its outlook for the rest of the year, Van De Velde said its wholesale pre-orders for autumn/winter 2014 are higher than the previous year and expects a strong rise in this segment.

Van de Velde forecast a strong rise in REBITDA for the whole of 2014, however said, this rise will be lower than the interim rise.

Fibre2fashion News Desk - India

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