Sursee (Switzerland), 3 April 2014
Gains in market share – Majority
stake in Lafuma represents strategic
diversification – Further nominati
on for the Board of Directors
For the fifth consecutive year CALIDA Group, which is listed on the SIX Swiss
Exchange, can report successful annual results. Its consolidated sales for 2013 went
up 3.9 percent year-on-year to CHF 211.0 million. This was well above the overall
market growth rate, leading to a further increase in the company's market share.
Excluding the currency effect, sales went up by 2.5 percent. Both brands, CALIDA and
AUBADE, contributed to the group's growth.
Operating profit (EBIT) for the year under
review came to CHF 23.4 million before one-time costs, or 11.3 percent of net sales.
Following various transactions, CALIDA Group increased its stake in LAFUMA, the
French outdoor clothing company, from 15.3 percent at the start of the year under
review to 59.9 percent. In addition to the nomination, already announced, of Christian
Haas for the Board of Directors of CALIDA Holding AG, the AGM will also be asked to
approve the election of Hans-Kristian Hoejsgaard, CEO of the Oettinger Davidoff
Group, as a new Board member.
CEO Felix Sulzberger commented on the year's main developments: "We reinforced the
market position of our two brands CALIDA and AUBADE during fiscal 2013. By acquiring a
majority stake in leading French sports clothing group LAFUMA, the Group also became
much bigger. Full consolidation from 2014 onwards will more than double CALIDA Group’s
sales."
CALIDA Group's consolidated sales for 2013 went
up 3.9 percent year-on-year from CHF
203.1 million to CHF 211.0 million. After adjusting for currency movements, sales increased
by 2.5 percent.
Both brands, CALIDA and AUBADE, once again contributed to growth in 2013. CALIDA's
sales rose by 2.5 percent (1.5 percent after currency adjustment) to CHF 142.1 million, while
AUBADE's went up by 6.7 percent (4.5 percent after currency adjustment) to CHF 68.9
million.
Consolidated profit (EBIT) before one-time cost
s came to CHF 23.4 million, or 11.3 percent of
net sales. After deducting exceptional costs of CHF 2.4 million, EBIT stood at CHF 21.0
million. These costs were due on the one hand to transaction expenses for the acquisition of
a controlling stake in Lafuma, and on the other to an out-of-court settlement relating to the
closure of AUBADE production facilities in 2006 and 2009.
Even after these costs, operating profit, at 10.2 percent of net sales, came in above CALIDA's
long-term guidance figure of 10 percent for the
fifth consecutive year. Both brands, CALIDA
and AUBADE, contributed to this satisfying result in terms of earnings too.
CALIDA Group's balance sheet and funding structure remain very solid following the
investment in Lafuma. As at the balance sheet date, the equity ratio (including minority
shareholders) stood at 49.5 percent. Following the addition of Lafuma, the enlarged group is
debt-free overall and has net cash and cash equivalents of CHF 34.7 million.
A three-step plan to acquire a majority stake in Lafuma was initiated during the year under
review and has now been successfully completed. CALIDA Group currently owns 59.9
percent of LAFUMA.
After taking over strategic and operational
management, a reorganization plan involving the
loss of 150 jobs and a new financing concept were developed for Lafuma. Its balance sheet
was also rigorously streamlined. The operationa
l reorganization will be completed this year.
Lafuma's group functions are being integrated into CALIDA. The goal for Lafuma is to
achieve breakeven in 2014. Its figures will be fully consolidated into the CALIDA accounts in
2014.
The AGM is being asked to strengthen the Board of Directors of CALIDA Group further by
electing Danish citizen Hans-Kristian Hoejsgaard to the Board. Mr Hoejsgaard has been CEO
of the Oettinger Davidoff Group since 2011. He has worked successfully for more than 30
years in management functions at internationa
lly focused companies with leading global
brands in the retail, consumer goods and life science sectors.
If the Annual General Meeting on 13 May 2014 does elect the proposed candidates for the
Board, CALIDA Group, which has grown considerably with the acquisition of Lafuma, will
increase the number of people on its Board of Directors from seven to eight.
2014 will be a challenging year for the core brands CALIDA and AUBADE owing to consumer
sentiment in their main markets. Thanks to good market positioning, however, it should be
possible to achieve another solid group result for the current year.
For more information please contact:
CALIDA Holding AG /
Felix Sulzberger, CEO /
Tel.: +41 41 925 44 49 /
www.calidagroup.com
By press release
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