Van de Velde posts drop in H1 sales and profit

In the first half of 2019, consolidated turnover at Van de Velde fell by 2.2 percent to 108.5 million euros (119.8 million dollars) compared with the year before. On a comparable basis, the consolidated turnover dropped by 1.2 percent to 112.8 million euros (124.6 million dollars). The company said in a statement that at constant exchange rates, turnover dropped 1.8 percent on a comparable basis.

The company added that this drop in turnover consists of stable comparable wholesale turnover, 6.7 percent or 8.8 percent constant currency drop in retail turnover, 5.6 percent fall in turnover in Europe, and 9.1 percent drop in the United States turnover. Reported EBITDA rose by 0.3 percent compared with the same period last year to 26.5 million euros (29.2 million dollars. On a comparable basis, the consolidated EBITDA rose by 2.8 percent to 29.3 million euros (32.3 million dollars).

The company further said, group profit in the first half was 8.3 percent lower than last year at 13.8 million euros (15.2 million dollars), resulting in profit per share of 1.03 euro.

Picture:Marie Jo website