Van de Velde, one of the global leaders in lingerie, swimwear and sportswear, reported net profit of €13.8 million for first six months of 2019. In H1 2019, consolidated turnover fell by 2.2 per cent from €110.9 million to €108.5 million compared with the year before. On a comparable basis, turnover dropped 1.2 per cent from €114.2 million to €112.8 million. The comparable wholesale turnover (including comparable season deliveries) remained stable in the first half of 2019. Retail turnover in the first half of 2019 dropped by 6.7 per cent compared with 2018 or by 8.8 per cent at constant exchange rates. Turnover in Europe fell by 5.6 per cent, whereas the United States dropped by 9.1 per cent. The retail network remained stable. Retail traffic figures dropped sharply, which was partly offset by a slightly better conversion rate. The reported EBITDA of the company rose in the first half of 2019 by 0.3 per cent compared with the same period last year, from €26.4 million to €26.5 million. On a comparable basis (including comparable deliveries), the consolidated EBITDA in the first half of 2019 rose by 2.8 per cent compared with the same period in 2018, from €28.5 million to €29.3 million. “Growth by focusing on retail partners and brands is how we want to reinforce the foundations of our company in 2019. Van de Velde is all about designing and manufacturing fashionable lingerie of high quality. We bring this to consumers through strong brands and strong retail partners. It is our conviction that this focus will strengthen the foundations of our company in the long term,” said Van de Velde in a press release.
