ESCADA new orders up appreciably for 2006 Spring/Summer collection
14 Sep '05
4 min read
Luxury fashion group ESCADA announced that the company new orders up significantly.
- Orders for 2006 Spring/Summer collections up by double-digit percentages from previous year - Business performance fully on track for first nine months of 2004-05 - Consolidated sales up 2.6% - EBITDA up 35.3% - After-tax profit EUR 9.6 million - Full-year revenue and earnings projections reconfirmed for fiscal 2004-05 - Outlook optimistic for fiscal 2005-06
With three quarters of the year now over, the ESCADA Group's business performance in fiscal 2004-05 remains firmly on track as planned. The maker of women's luxury fashions reported a moderate rise in revenues and a substantially sharper increase in earnings.
The Company has reconfirmed its revenue and earnings projections for the year as a whole (end of year: October 31). New orders are performing very well at present, therefore management is optimistic for the coming year.
Performance in first nine months of 2004-05 - During the first nine months of the year, ESCADA Group revenues were up 2.6 percent, from EUR 450.9 million to EUR 462.6 million. This growth was supported mainly by the ESCADA brand, which gained 4.6 percent to reach EUR 312.7 million. After adjustment for foreign-exchange differences - i.e., based on constant exchange rates from the prior year - Group revenues were up 3.7 percent (ESCADA brand: +6.3 percent).
- Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) grew 35.3 percent to EUR 45.6 million, clearly faster than revenue growth (first nine months of 2003-04: EUR 33.7 million).
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