ESCADA new orders up appreciably for 2006 Spring/Summer collection
14 Sep '05
4 min read
- Here the gross profit margin made a contribution, rising 1.2 percentage points to 63.0 percent. This improvement reflects a higher sell-through of merchandise at full price in the Company's own retail shops, and a better sourcing and production mix.
- Additionally, the leaner Group platform that was established last year lowered the cost ratio - operating costs relative to revenues - even further, to 56.5 percent (first nine months of 2003-04: 57.9 percent).
- Both of the Group's segments made a positive contribution to earnings. The ESCADA brand (ESCADA Collection, ESCADA Sport and ESCADA Accessories and Licenses) increased its EBITDA from EUR 24.7 million to EUR 33.0 million. The PRIMERA Group (apriori, BiBA, cavita and Laurèl) raised its EBITDA 29.6 percent, to EUR 14.0 million (first nine months of 2003-04: EUR 10.8 million).
- Earnings after taxes and minority interests were up to EUR 9.6 million, compared to zero for the equivalent period a year earlier.
- ESCADA is making good progress toward its goal of lowering capital tie-up even further. The Group cash flow after changes in working capital grew EUR 5.6 million in the first nine months to reach EUR 16.7 million. Despite the higher volume of business, inventories as of July 31, 2005, at EUR 141.6 million, were down from the same date a year earlier (EUR 146.1 million).
Third quarter performance 2004-05 - With business performing as planned overall, Group revenues for the third quarter were up 3.5 percent, to EUR 150.0 million (Q3 2003-04: EUR 144.9 million).
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