Calida-Group’s H1 sales grow by 3 percent

The Calida-Group announced its financial results for the

half-year of fiscal 2012. The group, which consists of the Calida and Aubade brands, achieved a currency-adjusted sales growth over the previous year of 3 per cent to 93.9 million Swiss francs (95.97 million dollars/Rs 532 crores). On a CHF-basis, this represents a decrease of 0.7 per cent. Operating income (EBIT) of 6.9 million Swiss francs (7.05 million dollars/Rs 39 crore) was impacted by higher retail costs attributed to the strong expansion of store space in 2011. Operating cash flow increased by 83 per cent to 7.5 million Swiss francs (7.67 million dollars/Rs 42 crore). The equity ratio improved further from 72.5 per cent to 75.6 per cent.

While Calida was able to increase only slightly by 0.4 per cent, Aubade’s sales grew by 7.6 per cent. The growth driver for both brands was again the retail business, whereas traditional sales through independent retailers and department stores remained under pressure.

Operating income on an EBIT basis for the reporting period was 6.9 million Swiss francs (7.05 million dollars/39 crore), which is 2.3 million Swiss francs (2.35 million dollars/Rs 13 crore), or 25 per cent, below the result from last year, while the net result of 5.5 million Swiss francs (5.63 million dollars/Rs 31 crore) was 3.2 million Swiss francs (3.28 million dollars/Rs 18 crore), or 37 per cent, lower.

This decline in operating income is mainly attributed to higher retail costs. In 2011 the group opened a total of 24 new own boutiques for both brands, resulting in investment costs of 10.2 million Swiss francs (10.44 million dollars/Rs 57 crore). The costs of these stores, in particular depreciation and operating costs, had a strong impact on the result in the reporting period. Also contributing to the decrease in income were one-time costs of approximately one million Swiss Francs related to acquisition activities.

The gross margin rose year-on-year by 58.4 per cent to a record level of 60.7 per cent. Operating cash flow increased by 83 per cent, from 4.1 million Swiss francs (4.20 million dollars/Rs 23 crore) to 7.5 million Swiss francs (7.68 million dollars/Rs 42 crore). Net liquidity reached 31.9 million Swiss francs (32.65 million dollars/Rs 181 crores) at half-year {previous year: 25 million Swiss francs (25.59 million dollars/Rs 141 crores)}, and the equity ratio improved further from 72.5 per cent to 75.6 per cent.

The Calida-Group is a manufacturer of luxury lingerie and bodywear. For Calida, the primary markets are Switzerland and Germany, for Aubade it is France. Calida and Aubade products are available in about 70 countries in luxury retail outlets, select department stores and exclusive Calida and Aubade stores.