Van De Velde NV reported consolidated earnings results for the full year ended December 31, 2012. For the year, the company reported turnover of EUR 181.8 million compared to turnover of EUR 179.8 million for the same period a year period. Operating profit before depreciation and amortization (EBITDA) was EUR 48.8 million or EUR 3.7 per share compared to EUR 53.8 million or EUR 4.0 per share last year. Operating profit (EBIT) was EUR 42.7 million compared to EUR 49.4 million last year. Profit before taxes was EUR 35.6 million compared to EUR 54.5 million last year. Profit attributable to the owners of the company was EUR 25.6 million compared to EUR 41.2 million last year. Recurring profit excluding impairment was EUR 33.6 million compared to EUR 41.2 million last year. Recurring profit attributable to the owners of the company was EUR 2.5 per share compared to EUR 3.1 per share last year. Consolidated EBITDA fell 9.2% in the year is mainly attributable to a combination of the following factors: A fall in wholesale turnover with a slight fall in the gross margin due to rising stitching costs in China and higher stock depreciations (primarily raw materials). Planned investments in fixed costs to support long term growth (marketing, sales organisation, IT infrastructure and the further development of the retail organisation).


The company strives to maintain consolidated turnover and EBITDA at a stable level in 2013 compared with 2012.