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Lingerie producer Van de Velde sees slight fall in turnover
08
Jan '09
Consolidated organic turnover of Van de Velde (excluding Sarda) prepared in accordance with IFRS fell by 0.8%. This fall is connected to weaker backorders in November and December, and to strong currency depreciations in growth markets (including United States, Canada, United Kingdom and Scandinavia).

This fall in turnover is entirely attributable to the last two quarters of the year. While there was growth of 0.9% in the first two quarters, there was a fall in turnover of 2.5% in the last two quarters.

New acquisition Eurocorset will be consolidated in Van de Velde's figures from the middle of 2008. Turnover for the year was approximately €10,9 million, an estimated €3,8 million of which will be included in the final figures. Eurocorset generates the largest part of its turnover during the first two quarters, due to the substantial importance of the swimwear collection. The Eurocorset figures will be confirmed together with the annual figures.

The 2008 results will be announced on Tuesday 17 February. The press release on the results will be followed by a meeting for the press and analysts.

Van de Velde NV is a leading player in the luxury and fashionable women's lingerie sector. Van de Velde is convinced of a long-term strategy based on expanding and developing brands around the Lingerie Styling concept (fit, style and fashion), especially in Europe and North America.

Van de Velde

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