The tight manufacturer Wolford AG wrote more losses again in 2024.
The bottom line was a loss of 50.7 million euros. In the previous year, Wolford was able to contain the negative result at 30.8 million euros.
“However, a number of unexpected events and operational headwind affected our performance, especially in the last quarter, and put our business under considerable pressure,” said the company’s board of directors in the annual report.
Last year, the company fought with liquidity bottlenecks, which were tightened by an abrupt interruption of the supply chain. However, these were partially mitigated by loans of 29.05 million of the majority shareholder Fosun Fashion Group.
Outlook 2025
The publication of the annual report was actually planned at the end of April, but was postponed at short notice. Previously, the company had already announced its preliminary sales figures, according to which the proceeds in 2024 fell by 30 percent to 88 million euros.
These preliminary figures were confirmed in the annual report. The result before interest and tax was minus 42.6 million euros.
According to Wolford, the market conditions in the current year should remain “unsafe and volatile”. Wolford therefore continues to assess the development of the operational result (EBIT) as challenging and does not yet expect profitability in 2025.
According to the annual report, the company wants to concentrate on “the restoration and implementation and consolidation of all initiatives to increase efficiency and financial sustainability” for the following year.
Mother -company also writes losses
The parent company Lanvin Group also suffered significant loss of sales in 2024 and a significantly higher loss than in the previous year. This was shown by business figures published at the end of April.