van de velde nv (VAN) Snapshot

Van de Velde NV announced for the financial year 2012, the Board of Directors will propose to the General Meeting of Shareholders the same dividend as in 2010 and 2011 that is EUR 2.1500 per share (net dividend of EUR 1.6125 per share). This means a pay-out ratio of approximately 85% of the recurring profit for the period. The dividend will be payable on May 7, 2013 with record date of May 6, 2013. Ex-coupon date is on May 2, 2013.

Van De Velde NV reported consolidated earnings results for the full year ended December 31, 2012. For the year, the company reported turnover of EUR 181.8 million compared to turnover of EUR 179.8 million for the same period a year period. Operating profit before depreciation and amortization (EBITDA) was EUR 48.8 million or EUR 3.7 per share compared to EUR 53.8 million or EUR 4.0 per share last year. Operating profit (EBIT) was EUR 42.7 million compared to EUR 49.4 million last year. Profit before taxes was EUR 35.6 million compared to EUR 54.5 million last year. Profit attributable to the owners of the company was EUR 25.6 million compared to EUR 41.2 million last year. Recurring profit excluding impairment was EUR 33.6 million compared to EUR 41.2 million last year. Recurring profit attributable to the owners of the company was EUR 2.5 per share compared to EUR 3.1 per share last year. Consolidated EBITDA fell 9.2% in the year is mainly attributable to a combination of the following factors: A fall in wholesale turnover with a slight fall in the gross margin due to rising stitching costs in China and higher stock depreciations (primarily raw materials). Planned investments in fixed costs to support long term growth (marketing, sales organisation, IT infrastructure and the further development of the retail organisation). The company strives to maintain consolidated turnover and EBITDA at a stable level in 2013 compared with 2012.

Van De Velde NV announced unaudited consolidated sales results for the year 2012. For the period, the company reported consolidated sales growth of 0.9% from EUR 179.8 million to EUR 181.4 million. The turnover development can be explained as: fall in wholesale turnover by 1.2%. This fall is mainly due to a decline in the first half of 2012, wholesale turnover increased by 0.7% in the second half. Fall in the retail turnover of Intimacy of about 12% in local currency and 5% in euro. In Continental Europe retail turnover of Rigby & Peller grows by 7% for opening of new stores in Germany and Spain. The retail turnover of Rigby & Peller in the UK contributes for an amount of EUR 11.3 million versus EUR 4.4 million in 2011.