Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at email@example.com in case you need any other additional information.
For the reported period, the company's EBITDA of Au$51.1 million was up 2.8 per cent cc and 0.3 per cent as reported. In the second half, EBITDA of Au$27.2 million was up 50.1 per cent cc and 41.1 per cent as reported.
"At the annual general meeting we said we were confident that our strategy would produce a strong second half and drive overall EBITDA growth for the year, despite a first half that was behind the prior period. We have achieved those ambitious goals. This result marks a turning point for the company, and one on which we can build," Billabong chief executive officer Neil Fiske said.
The Americas returned 46.9 per cent EBITDA growth cc. Europe rebounded from a soft first half to post full year EBITDA growth of 8.9 per cent cc, comparable gross margins improved in every region in the second half year-on-year, and operating cash flow improved substantially. In the second half, EBITDA on a constant currency basis was up 50 per cent. This is by far the best growth the company has reported for any period since the recapitalisation in 2013.
The company reported a Net Loss Before Tax of Au$8.4 million, excluding significant items and discontinued businesses. After a predominately non-cash impairment charge of Au$106.5 million the Net Loss After Tax was recorded at Au$77.1 million.
"The key to our ongoing success is the relevance of our brands. We continue to strengthen the connection with our customers, with global social media followership up 42 per cent year-on-year," said Fiske.
"Looking ahead, market conditions remain challenging, particularly in Australia, but we see opportunities for sustained earnings growth driven by further expansion in gross margins, acceleration of our direct to customer channels, strength in the Americas, growth in our RVCA brand, expanded global distribution, cost efficiencies and the ongoing benefits of our global platforms," concluded Fiske. (RR)
Fibre2Fashion News Desk – India
| On 1st Dec 2020
Stronger regional cooperation strategies, including in health, trade, ...
| On 1st Dec 2020
Older generations are leading the way in the slow fashion movement,...
Snake, a Croatian platform that enables users to wear outfits in...
ITME is an occasion not only to receive new leads but also to work on...
Fashion industry likely to remain labour-intensive in coming years
Trade buzz: This could be a landmark budget
Activewear brand Soul Space promotes organic cotton farming and...
Part of retail and hospitality conglomerate Landmark Group in Dubai,...
Italy-based Cibitex is a manufacturer of textile finishing machinery,...
Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively
Functional Fabric Fair is a trade-exclusive event showcasing the latest...
University of New South Wales
<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...
Schlegel und Partner GmbH
<div>Schlegel und Partner is the market research and consultancy company...
Silvia Venturini Fendi
"Yes, my confidence and positive attitude are my strengths and should be...
Coming from a family that ran a business of jute and linen mills since...
<b>Sidharth Sinha</b> has contributed to the successful rebirth and...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.