Wolford deepens losses again

Hosiery manufacturer Wolford reported increased losses again in 2024. The bottom line was a loss of 50.7 million euros. In the previous year, Wolford was able to limit the negative result to 30.8 million euros.

“A number of unexpected events and operational headwinds impacted our performance, particularly in the last quarter, and put significant pressure on our business,” the company's board stated in its annual report.

The company struggled with liquidity bottlenecks last year, which were exacerbated by an abrupt interruption in the supply chain. However, these were partially alleviated by loans of 29.05 million euros from the majority shareholder Fosun Fashion Group.

Outlook for 2025

The publication of the annual report was originally planned for the end of April, but was postponed at short notice. Previously, the company had already announced its preliminary sales figures, according to which revenues for 2024 fell by 30 percent to 88 million euros.

These preliminary figures were confirmed in the annual report. Earnings before interest and taxes were minus 42.6 million euros.

According to Wolford, market conditions in the current year are expected to remain “uncertain and volatile”. Wolford, therefore, continues to consider the development of operating profit (EBIT) to be challenging and does not expect profitability in the current financial year of 2025.

According to the annual report, the company intends to focus primarily on “restoring operating business and implementing and consolidating all initiatives to increase efficiency and financial sustainability” in 2026.