Belgium's Van de Velde's consolidated turnover up 10.6% in FY22

Consolidated EBITDA, a measure of operating profitability, increased by 10.8 per cent on a comparable basis, from €52.3 million in FY21 to €58 million in FY22. The reported EBITDA also increased, by 5.8 per cent from €55 million to €58.2 million. The company's net group profit for the period amounted to €36.8 million, an increase of 14.9 per cent. The EBITDA on a comparable basis amounted to 27.4 per cent and was in line with FY21, Van de Velde said in a press release.

The company's B2B segment saw comparable turnover grow by 10.1 per cent to €168.2 million, while the D2C segment grew by 12.2 per cent to €43.2 million. The growth was driven by a strong sales performance in the first half of the year, as customers returned to physical stores. Swim sales also recovered after two years of travel restrictions. Sales were supported by an optichannel customer experience based on a 360-degree marketing activation throughout different channels and countries.

Van de Velde’s financial result for FY22 was minus €1.3 million, compared to minus €1 million in FY21, due to the impact of exchange rate conversions.

Fibre2Fashion News Desk (DP)