BILLABONG BACK WITH UPBEAT HALF-YEAR TO 31 DECEMBER 2014 26.02.15
ASB Magazine: Billabong today announced its half-year financial results to 31 December 2014. Overview: • The Group returns to profitability. Including significant items and discontinued businesses, Net Profit after Tax for the half-year to 31 December 2014 of $25.7 million, compared to a loss of $126.3 million for the previous corresponding period (“pcp”). • Excluding significant items and discontinued businesses, EBITDA for the period was a profit of $42.8 million and NPAT was $13.8 million. • European EBITDA increased $5.1 million following ongoing restructuring. • In the key United States wholesale channel, brand Billabong sales up 9.5% and RVCA up 5.7% on a like for like basis. • Australian retail sales down over Christmas trading period. • Global implementation of seven-part turnaround strategy builds momentum but remains in its early stages.