The Belgian laundry supplier Van de Velde NV closed the 2025 financial year with slight losses in sales and a significant decline in profits. This emerges from a statement that the parent company of brands such as Marie Jo, Primadonna and Sarda published on Thursday.
Accordingly, sales fell by 2.0 percent to 202.4 million euros last year. On a comparable basis – i.e. adjusted for the effects of changed delivery dates – it fell by 1.1 percent to 203.4 million euros. In the second half of the year, the group at least experienced a recovery and achieved a sales increase of 1.9 percent on a comparable basis.
Growth in own retail
The direct-to-consumer segment (D2C) developed positively with sales growth of 5.2 percent to 55.9 million euros. The company attributed this to strong results from its branded websites, continued geographic expansion and a greater presence in online marketplaces.
In the wholesale business, however, sales fell by 4.5 percent to 146.4 million euros. On a comparable basis, it fell by 3.4 percent despite an upward trend in the second half of the year. The decline was mainly due to weak performance in the first half of the year, particularly in the swimwear category.
CEO Karel Verlinde said in a statement that the refresh of the range and the expansion of the D2C segment were beginning to bear fruit. He emphasized that the first half of the year was affected by high import tariffs in the US market. However, European markets experienced a recovery in the second half of the year.
Negative special effects weigh on profits
The group’s net profit amounted to 17.8 million euros last year, which corresponded to a decrease of 44.3 percent compared to the previous year. The significant losses were due not least to an impairment of 9.6 million euros. This resulted from the revaluation of the Group’s 25.6 percent stake in the Hong Kong-based company Top Form Ltd.
Earnings before interest, taxes, depreciation and amortization (EBITDA) reached 47.1 million euros on a comparable basis, 6.1 percent below the corresponding previous year’s figure.
The company also announced a new share buyback program of up to 15 million euros, which begins with immediate effect.
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