Van de Velde turnover decreases by 3 percent in 2019

For the fiscal year of 2019 the reported turnover of Van de Velde decreased by 3 percent to 197 million euros (215 million dollars). At constant exchange rates, this amounts to a decrease of 3.6 percent. The company said in a statement, wholesale turnover on comparable basis decreased by 2.2 percent with a decrease in lingerie partially compensated by growth in the swim collection. Retail turnover on like-for-like store basis decreased by 3.7 percent, while turnover on like-for-like store basis of the company’s own eight stores in the US decreased by 3.4 percent, while in Europe, turnover decreased by 3.8 percent.

The company added that EBITDA on comparable basis grew by 17 percent to 41.9 million euros (45.7 million dollars), while the financial result was 2.5 million euros (2.7 million dollars), lower than last year as a consequence of negative exchange results. As a result of decreasing financial income and higher depreciation and profit tax, the group profit amounted to 21.2 million euros (23.1 million dollars) compared to 25.5 million euros for 2018.

For the financial year of 2019, Van de Velde said, the board of directors will propose a dividend of 1.03 euros (1.12 dollars) and after approval by the general meeting of shareholders, the final dividend will be paid out from May 6, 2020.

Picture:Facebook/Marie Jo Lingerie