Value Creation and Financial Highlights of ELG
Sales of 6M/Q2 2019
Core operating markets for European Lingerie Group are Germany, Spain,
France, Poland, Benelux countries, Baltic countries, Russia, Belarus and
Ukraine. Group's sales in its core markets in 6 months 2019 were 81.1% of
its total sales against 84.0% in 6 months 2018.
The largest growth in sales in 6 months 2019 was in Russia and Belarus.
These markets grew by 44.8% and 34.2% respectively in 6 months 2019
(11.3% and 57.2% respectively in Q2 2019). Russia is also one of the main
customers for Felina swimwear and Senselle by Felina lingerie ready
garments, which pushed the sales up even futrther. Sales in Belarus grew in
the textile segment of the Group and were a result of the growth of medium
lingerie sewing companies in the country.
Spain and Poland also delivered sizeable growth both in 6 months and Q2
2019, whereby sales in these countries in 6 months 2019 increased by 6.4%
and 3.1% respectively (Q2 2019: 7.2% and 1.3% respectively). This is a
result of several activities including development of the omni-channel
strategy with the largest customer in Spain as well as expansion of the
Group's lingerie products' presence in the retail channels in these countries.
Spain is another important market for Felina swimwear, which helped to grow
the sales further.
During 6 months 2019, both - the textiles and lingerie segments performed
better than in 6 months 2018. This was driven by the improvement of the
sales trend in particular markets and start of the sales of new swimwear,
activity wear and Senselle by Felina lingerie ready garments. While the
textiles segment had a positive trend in both Q1 and Q2, the lingerie
segment showed a decrease in sales in Q2 due to a partial shift of sales to
Q3 2019.
Sales by markets - 6 Months
In thousands months
of EUR
2019
(Actual)
Russia
Baltic
6
6
6
6
months
2018
(Pro for-
ma)
Change,
months
2019,
months
2018,
%
% of
% of
sales
sales
Germany
8,731 9,266
-5.8%
21.8%
24.2%
5,267 3,637
44.8%
13.2%
9.5%
4,777 5,400 -11.5%
11.9%
14.1%
countries
France
3,331 4,078 -18.3%
8.3%
10.6%
Belarus
Benelux
2,942
2,192 34.2%
7.4%
5.7%
2,794 3,001 -6.9%
7.0%
7.8%
countries
2,389 2,318
3.1%
6.0%
6.0%
Spain
Ukraine
1,476 1,387
6.4%
3.7%
3.6%
733
950
-22.8%
1.8%
2.5%
7,545
6,119
23.3% 18.9% 16.0%
markets
Total
39,985 38,348
4.3% 100.0% 100.0%
Poland
Other
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