The Austrian clothing supplier Wolford AG believes that its comprehensive savings program is on track and has adjusted its earnings forecasts accordingly.
According to an ad hoc announcement published on Monday, the board now expects positive earnings before interest, taxes, depreciation and amortization (EBITDA) “in the single-digit million range” for the current 2023 financial year “despite the deterioration in the global macroeconomic situation”.
The company management therefore expects positive earnings before interest and taxes (EBIT) for 2024. The goals now announced are the “result of ongoing efforts to adjust costs and increase sales,” explained Wolford. The legwear specialist, which belongs to the Chinese fashion group Lanvin Group, closed the last financial year with a loss before interest, taxes, depreciation and amortization of 11.8 million euros.