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Profitability growth for 2010 remains healthy at Van de Velde
19
Nov '10
Van de Velde, a leading player in the luxury and fashionable women's lingerie sector, announced Interim Report.

Outlook 2010 & 2011

Van de Velde (excluding Intimacy) expects turnover growth of around 6.5% for 2010. Backorders in December will determine what growth figure is precisely achieved. The turnover indications for the first half of 2011 are also positive.

The profitability growth for 2010 remains healthy and Van de Velde strives for EBITDA (excluding Intimacy) in excess of €49m.

On an annual basis, Intimacy expects turnover of $36.6m and EBITDA of $1.5m. Eight months of this will be fully consolidated in Van de Velde's figures. Efforts continue to be invested in future growth, including two recent openings (Philadelphia and Detroit).

Strategy

Van de Velde presses on with its long term initiatives, such as the exploration of Eastern Europe and the Far East, Sarda, the continued rollout of PrimaDonna TWIST and the further expansion of the retail network.

Since the beginning of October, Van de Velde has increased its stake in Top Form by almost 2.4% to 25.7%. This represents an investment of €1.5m. The additional 2.4% stake will not have any major impact on Van de Velde's financial position.

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 N.V.

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