fashion

full year sales and profit decline at Van de Velde


full year sales and profit decline at Van de Velde

On a comparable basis, the consolidated turnover in 2020 decreased by 18.5 percent at Van de Velde to 160.5 million euros, while the reported turnover decreased more sharply by 22.1 percent to 152.3 million euros. Comparable wholesale turnover of 2020 was 14.6 percent or 23.6 million euros lower than last year. The company said that in the first half of the year, there was a 23.5 percent decline in turnover as a result of the store closures from mid-March in all markets, while the turnover decline in the second half of the year was 2 percent.

The retail turnover in 2020 decreased by 36.6 percent to 22.3 million euros. The company added that in Europe, turnover fell by 26.8 percent, while the US was down 57.3 percent. In the first half of the year, turnover fell by 42 percent, while in the second half of the year, turnover fell by 30.7 percent and the company saw a stronger recovery in NL and DE than in the UK and US.

On a comparable basis, the consolidated EBITDA for 2020 fell by 17.4 percent to 40.1 million euros and the EBITDA on a non-comparable basis fell by 27.1 percent to 34.7 million euros. In 2020, the company further said, the group profit will end 30.6 percent lower than last year.

For the 2020 financial year, the company’s board of directors has proposed to distribute a stable dividend of 1 euro per share.



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.  Learn more