BILLABONG ASIA-PACIFIC REGION SALES UP 28.08.14
ASB Magazine: Billabong announced its full-year financial results to 30 June 2014. Overview • Including significant items and discontinued businesses, Net Loss after Tax for full-year to 30 June 2014 of $233.7 million compared to a loss of $859.5 million for the previous corresponding period (“pcp”). On the same basis, EBITDA was a loss of $52.3 million. • Excluding significant items and discontinued businesses, EBITDA for the period was a profit of $52.5 million. • On a pro forma basis, taking into account the anticipated sale of the SurfStitch and Swell businesses, the EBITDA result is a profit of $60.3 million (again excluding significant items and discontinued businesses). • Leadership and global re-organisation in place. Early signs that growth in key brands in major markets is returning. Complex challenges remain. Turnaround is accelerating and gaining traction across the business.