Home / Knowledge / News / Van de Velde sales marginally up 1.1% in 2012
Van de Velde sales marginally up 1.1% in 2012
25
Feb '13
Luxury and fashionable women’s lingerie brand Van de Velde announces its annual results for year 2012.

- Consolidated turnover rises by 1.1%.

- A decrease in wholesale turnover, a slight fall in gross margin and an important increase in costs, supporting long term growth, result in an ebitda decrease of 9.2%.

- The board of directors will propose to the general meeting of shareholders to maintain the dividend at € 2.15 per share.

- This confirms the confidence of the company in its growth and cash generation.

Turnover Development 2012

In 2012 Van de Velde achieved consolidated turnover growth of 1.1% (from € 179.8m to € 181.8m).

This turnover development can be explained as follows:

- A fall in wholesale turnover of 1.0%. This fall is mainly due to a decline in the first half of 2012; wholesale turnover increased by slightly more than 1.0% in the second half.

- A fall in the retail turnover of Intimacy of 12.6% in local currency and 5.3% in euro.

- In Continental Europe retail turnover of Rigby & Peller (formerly Oreia) rose by 7.0%, due to the opening of new stores in Germany and Spain.

- The contribution of retail turnover of Rigby & Peller in the UK was £ 9.2m (€ 11.3m) versus € 4.4m in 2011 (5 months).

Ebitda development

Consolidated EBITDA fell 9.2% to € 48.8m. This evolution is mainly attributable to a combination of the following factors:

- A fall in wholesale turnover with a slight fall in the gross margin due to rising stitching costs in China and higher stock depreciations (primarily raw materials).

- Planned investments in fixed costs to support long term growth (marketing, sales organisation, IT infrastructure and the further development of the retail organisation).

Impairment of goodwill and intangible assets with indefinite useful life

As reported earlier, the Andrés Sardá brand is suffering from the financial crisis in southern Europe, given that Spain is Andrés Sardá’s home market. Van de Velde continues to invest in this brand’s long-term future, for which additional marketing investments will be made in 2013.

The low point of 2010 is clearly behind us and all turnover figures since then have been higher than this low point. Andrés Sardá remains one of our three core brands, alongside Marie Jo/L’Aventure and PrimaDonna/Twist, and will be given the support it needs to achieve this ambition.

However, the development of turnover and the EBITDA contribution in 2012 and 2013 continue to be below expectations as set at the time of acquisition and as a consequence expections have been adjusted. This results in a partial impairment of € 8.0m of goodwill (€ 2.5m) and intangible assets with indefinite useful life (€ 5.5m) in connection with Andrés Sardá.


Must ReadView All

India's garment exports up 24.93% in September 2017

Textiles | On 16th Oct 2017

India's garment exports up 24.93% in September 2017

The exports of readymade garments from India in September 2017 was...

Low GST rate on zari will generate jobs for women: SRTEPC

Textiles | On 16th Oct 2017

Low GST rate on zari will generate jobs for women: SRTEPC

There will be a rise in the employment for women with the slash in...

Consumers may suffer if no assurance to EU workers in UK

Apparel/Garments | On 16th Oct 2017

Consumers may suffer if no assurance to EU workers in UK

Consumers may suffer if the British Government does not quickly offer ...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.9%
No
13.8%
Skip
9.2%

Total Votes: 65

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
27.7%
Skip
10.8%

Total Votes: 65

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.6%
No
10.8%
Skip
4.6%

Total Votes: 65

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
73.8%
No
12.3%
Skip
13.8%

Total Votes: 65


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search