Wolford expects negative earnings for 2023

At the end of April, Wolford AG postponed the publication of its annual financial statements for 2023, but the Austrian clothing retailer has now reported its preliminary results.

An ad hoc announcement on Thursday shows that the legwear specialist, which is part of the Lanvin Group fashion group, expects a negative result before interest, taxes, depreciation and amortization (EBITDA) of 24,000 euros.

At the end of April, the group was still expecting a positive result of 0.2 million euros. There are no changes in earnings before interest and taxes (EBIT), for which a result of -17 million euros is still anticipated. This is a “significant improvement”, as Wolford closed the 2022 financial year with a loss before interest and taxes of 28.6 million euros.

Wolford had already published preliminary sales figures for last year in February, which revealed revenues amounting to 126.9 million euros, an increase of 1 percent compared to 2022. According to the company, strong growth in the Asia-Pacific region more than offset slight declines in the Americas and Europe.

However, EBIT is expected to be negative for the 2024 financial year due to macroeconomic developments.

This article originally appeared on FashionUnited.DE. Translation and edit by: Rachel Douglass.