Slide 1: Consolidated Income Statement and Comprehensive Income Statement
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION CONSOLIDATED INCOME STATEMENT AND COMPREHENSIVE INCOME STATEMENT 30.06.2019 IFRS 16 30.06.2019 (in € 000) 30.06.2018 incl. IFRS 16 impact excl. IFRS 16 Turnover 108,481 108,481 110,887 Other operating income 2,29
Slide 2: Turnover and (R)EBITDA
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION TURNOVER In the first half of 2019, consolidated turnover at Van de Velde fell by 2.2% (from €110.9m to €108.5m) compared with the year before. On a comparable basis (including comparable season deliveries), the
Slide 3: Financial Result, Equity Method, Income Tax and Net Profit
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION FINANCIAL RESULT EXCLUDING IFRS 16 The financial result was €1.7 lower than in 2018. The main causes of the lower financial revenues are: • No dividend was received from Top Form in 2019 (-€0.3m); • Negative impa
Slide 4: Consolidated Balance Sheet
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION CONSOLIDATED BALANCE SHEET (in € 000) 30.06.2019 31.12.2018 Total fixed assets 94,515 75,301 Goodwill 4,546 4,546 Intangible fixed assets 25,159 23,113 Tangible fixed assets 30,125 33,627 Right of use assets 20,9
Slide 5: Impact of IFRS 16
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION IMPACT OF IFRS 16 IFRS 16 became effective 1 January 2019. As a consequence of this new standard, virtually all lease agreements have been recognised on the balance sheet. Assets (the right to use the leased prop
Slide 6: Reconciliation of Lease Obligations IAS 17 to IFRS 16
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION The reconciliation from IAS 17 to IFRS 16 is shown below. Reconciliation of lease obligations as a result of IFRS 16 € in million Future minimum rent to be paid for the operating leases as of 31 December, 2018 24
Slide 7: Current Assets and Shareholders' Equity
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION CURRENT ASSETS EXCLUDING IFRS 16 The current assets fell by 2.8% compared with the end of 2018 for the following reasons: - Stocks were lower compared with the end of 2018, but 4.5% higher than in June 2018. - Hi
Slide 8: Statement of Changes in Equity
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION STATEMENT OF CHANGES IN EQUITY Attributable to the shareholders of the parent (in € 000) Share Share Treasury Pensions Retained Share-based Other Shareholders Non- Total capital premium shares earnings payments c
Slide 9: Consolidated Statement of Cash Flows
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION CONSOLIDATED STATEMENT OF CASH FLOWS (in € 000) 30.06.2019 30.06.2018 Cash flows from operating activities Cash receipts from customers 108,663 116,446 Cash paid to suppliers and employees -83,703 -90,176 Cash ge
Slide 10: Segment Information
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION SEGMENT INFORMATION Van de Velde is a single-product business, being the production and sale of luxury lingerie. Van de Velde distinguishes two operating segments: Wholesale and Retail. No segments were combined.
Slide 11: Segment Income Statement and Segment Balance Sheet
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION Segment income statement 2019 2018 (in € 000) Wholesale Retail Unallocated Total Wholesale Retail Unallocated Total Segment revenues 90,175 18,306 0 108,481 91,273 19,614 0 110,887 Segment costs -47,279 -15,666 -
Slide 12: Breakdown by Region – Turnover
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION Breakdown by region – turnover (in € 000) 2019 2018 Eurozone Elsewhere Total Eurozone Elsewhere Total Turnover 77,238 31,243 108,481 77,586 33,301 110,887 The most important markets, determined on the basis of th
Slide 13: Prospects and Risk
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION PROSPECTS “Growth by focusing on retail partners and brands” is how we want to reinforce the foundations of our company in 2019. Van de Velde is all about designing and manufacturing fashionable lingerie of high
Slide 14: Notes to the Interim Consolidated Financial Information
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION NOTES TO THE INTERIM CONSOLIDATED FINANCIAL INFORMATION This interim consolidated financial information was prepared in compliance with the applicable international standard for interim consolidated financial inf
Slide 15: Declaration of the Responsible Persons
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION DECLARATION OF THE RESPONSIBLE PERSONS The undersigned declare that: - The financial overviews in this report, which have been prepared in compliance with the applicable standards, faithfully reflect the equity,
Slide 16: Report of the Statutory Auditor
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION REPORT OF THE STATUTORY AUDITOR TO THE SHAREHOLDERS OF VAN DE VELDE ON THE REVIEW OF THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS OF 30 JUNE 2019 AND FOR THE 6 MONTH PERIOD THEN ENDED Introduction We have rev
Slide 17: Auditor Conclusion and Contacts
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION Conclusion Based on our review, nothing has come to our attention that causes us to believe that the accompanying Interim Consolidated Financial Statements are not prepared, in all material aspects, in accordance
Slide 18: Financial Calendar and About Van de Velde
FINANCIAL REPORT ON CONSOLIDATED RESULTS FOR FIRST HALF YEAR 2019 REGULATED INFORMATION FINANCIAL CALENDAR 31.12.2019 End of financial year 2019 27.02.2020 Announcement of the 2019 annual results 27.03.2020 Interactive annual report 2019 online 29.04.2020 General Shareholders’ Meeting ABOUT VAN DE V