Billabong, Element, Kustom and Von Zipper all posted solid gains. Elsewhere in the region, sales revenue in local currencies were particularly strong with Japan increasing in excess of 35 percent and New Zealand increasing by approximately 14 percent.
Compared with the prior year, sales revenue increased 26.2 percent to US$162.5 million (up from US$128.8 million), EBITDA rose 28.4 percent to US$31.1 million (up from US$24.2 million) and EBITDA margins lifted to 19.1 percent (up from 18.7 percent).
In AUD terms, sales revenue in the Americas increased 24.5 percent to $218.3 million and EBITDA of $41.7 million was 27.3 percent higher than the prior year.
The Billabong brand delivered strong growth in excess of 20 percent, a particularly pleasing result. Element continued to penetrate the market and its global sales now account for approx. 15 percent of group revenue. Canada and Brazil grew strongly, posting local currency sales revenue increases over the prior year in excess of 30 percent and 45 percent respectively.
Compared with the prior year, European sales revenue increased 16.9 percent to €54.4 million and EBITDA rose 34.1 percent to €11.1 million. In AUD terms, sales revenue from Europe was $88.9 million, a 9.3 percent increase, EBITDA showed strong growth of 25.4 percent to $18.1 million and EBITDA margins increased to 20.4 percent from 17.8 percent in the prior year.
Billabong's stronger 2005-06 sales revenue and EBITDA result demonstrates a significantly improved business performance and is particularly pleasing given the continuing generally soft retail environment. Italy and Spain continue to be key growth areas in the region.
Billabong International Ltd's principal activities are the wholesaling and retailing of surf, skate and snow apparel and accessories, and the licensing of its trademarks to specified regions of the world. It operates in Australia, New Zealand, Japan, America, Brazil and Europe.
Billabong International Limited
marketing@alchempro.com
