216
Fashion Jobs
ESSILORLUXOTTICA GROUP
Key Account Manager Nordics
Permanent · GOTHENBURG
H&M
Production Manager – Singular Society
Permanent · STOCKHOLM
ZALANDO
Senior Product Manager - Finance & Compliance (All Genders)
Permanent · STOCKHOLM
ZALANDO
Senior Product Manager - Returns Shipping Solutions
Permanent · STOCKHOLM
GANT
Campaign Coordinator
Permanent · STOCKHOLM
H&M
Legal Counsel – h&m Group
Permanent · STOCKHOLM
H&M
Operations Manager to ai Tech Center
Permanent · STOCKHOLM
H&M
Engineering Manager - ml Platform
Permanent · STOCKHOLM
KERING EYEWEAR
Kering Eyewear Area Sales Manager Sweden
Permanent · STOCKHOLM
H&M
Product Manager - Sre (Site Reliability Engineering)
Permanent · STOCKHOLM
H&M
Engineering Manager - Sap Functions
Permanent · STOCKHOLM
L'OREAL GROUP
Pharmacy Representative - Dermatological Beauty Division - Stockholm Region
Permanent · STOCKHOLM
H&M
Operations Manager
Permanent · STOCKHOLM
H&M
Administrator h&m Divided
Permanent · STOCKHOLM
ESPRIT
Visstidsanställning Brand Representative 25 Timmar / Per Vecka
Permanent · MALMÖ
ZALANDO
Principal Product Manager - Data And Platform (All Genders)
Permanent · STOCKHOLM
H&M
Cyber Security Engineering Manager – Cybercrime
Permanent · STOCKHOLM
H&M
Cyber Security Engineering Manager – Security Controls
Permanent · STOCKHOLM
GANT
Global Operations Project Manager
Permanent · STOCKHOLM
H&M
Visual Merchandiser Manager 38,25h
Permanent · MALMÖ
H&M
Area Lead Engineer - Product Program Management
Permanent · STOCKHOLM
H&M
IT Coordinator
Permanent · ESKILSTUNA
Published
Feb 27, 2015
Reading time
2 minutes
Download
Download the article
Print
Text size

Van de Velde: positive results tarnished by Intimacy

Published
Feb 27, 2015

Van de Velde had a good year in 2014, but it still can’t ignore a certain stain on its results. Having announced a few weeks ago that it was ending its 2014 fiscal year with an 8.7% increase in revenues at 198.4 million euros, the Belgian lingerie group (PrimaDonna, Marie Jo, Andres Sarda) has just released its results and outlook for 2015.

Its EBITDA increased significantly in 2014, from 47 to 57.7 million euros, an increase of 22.8%. This positive momentum continued with recurring profits of 33.9 million euros, up 3.2% excluding impairment/non-recurring restructuring costs.

Marie Jo L’Aventure spring-summer 15 - Marie Jo.


Recurring net profits were, however, negatively impacted by impairment on Intimacy, the US multibrand retail chain it acquired in 2010. Impairment charges rose to about 31 million. The amount was recognized as an expense, and therefore officially brought down its net profit to 2.5 million euros. While the group's brands saw a rise in their wholesale business and its European retailers Rigby & Peller and Linchérie saw a higher turnover, it was only Intimacy that has penalized the group's results. 

For 2015, it seems that the major theme has been the group’s inability to bring Intimacy up to snuff since its acquisition. Worse, the company is being somewhat dragged down with a negative REBITDA for the first time in 2014. Resolving this negative cash flow problem will be one of Van de Velde major objectives, even without the official announcement.

As for its other constituents, the group expects further wholesale growth for its brands in the first half, as well as growth for its retail segment in Germany, the Netherlands and, to a lesser extent, in the UK.

€1 = $1.12/£0.73

Copyright © 2024 FashionNetwork.com All rights reserved.