• Home
  • News
  • Business
  • Van de Velde posts 1.2 percent turnover growth in FY17

Van de Velde posts 1.2 percent turnover growth in FY17

By Prachi Singh

loading...

Scroll down to read more

Business

For the fiscal year 2017 the reported turnover of Van de Velde increased by 1.2 percent or 1.9 percent at constant exchange to 209 million euros (257.5 million dollars). On comparable basis, the company said that turnover increased by of 0.2 percent, while taking the negative exchange rate effect into account, the consolidated turnover decreased by 0.6 percent to 205.6 million euros (253.3 million dollars).

Wholesale turnover on comparable decreased by 0.1 percent at constant exchange rates. Van de Velde said, a decrease in lingerie was compensated by growth in our swim and sports collections. Taking the negative exchange rate effect into account on the one hand and the positive effect of higher deliveries of the spring/summer collection, the reported turnover increased by 1.6 percent.

Retail turnover for the year, on like-for-like store basis at constant exchange rates increased by 4.2 percent due to 8.3 percent growth in Europe but 2.5 percent decline in the US. Taking the negative exchange rate effect and the effect of closure of lossmaking stores into account, reported turnover decreased by 0.9 percent.

The reported EBITDA decreased by 10.1 percent, from 61.9 million euros (76.2 million dollars) to 55.7 million euros (68.6 million dollars) in the fiscal year 2017. On a comparable basis, the consolidated EBITDA decreased by 13.9 percent, to 53.5 million euros (65.9 million dollars). In 2017, the group profit increased by 1.2 percent to 33.9 million euros (41.8 million dollars), resulting in a net profit per share of 2.52 euros (3.1 dollars).

For the financial year of 2017 the board of directors will propose a dividend of 1.03 euros (1.27 dollars), net dividend of 0.721 euros (0.89 dollar). The proposed dividend corresponds to a payout ratio of 40 percent of the group’s consolidated profit increased with the result based on the equity method.

Picture:Facebook/Andres Sarda

MULTIMEDIA
Van de Velde