EBITDA of women's luxury fashion group up by 5.4 %
06 Mar '07
3 min read
As of January 31, 2007 net debt stood at 190.0 million Euro and was therefore significantly lower than the figure recorded at the end of the first quarter of 2006 (223.9 million Euro). In line with company strategy, inventories were reduced from 138.8 million Euro to 107.8 million Euro, as of reporting date.
The ESCADA business unit generated first quarter sales of 111.5 million Euro against 120.9 million Euro in the same quarter of the prior year (-7.8%, currency-adjusted:-3.9%). EBITDA improved by 9.6% from 14.6 million Euro to 16.0 million Euro.
The PRIMERA business unit improved quarterly sales by 6.8% to 56.7 million Euro (first quarter 2005/2006: 53.1 million Euro). Extra costs for the expansion meant that the PRIMERA unit\'s EBITDA of 5.6 million Euro was marginally below last year\'s figure for the same quarter (5.9 million Euro).
The Board of Management affirms its expectations for the full fiscal year 2006/2007, estimating Group sales to climb by a mid single-digit percentage point, and EBITDA to increase in excess of sales growth.
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