Value Creation and Financial Highlights of ELG
Key findings of
6M/Q2 2019
EUR 40.0m
Sales
6 months 2019
EUR 4.6m
Normalized EBITDA
6 months 2019
In 2019, the Group's new product lines, including our new brand
Senselle by Felina and also Felina swimwear, have started
bringing good volumes. The contribution of these new
products to total sales will continue with increasing pace
throughout the whole year.
Even though the trend of closure of small specialized retail
shops in the Southern and Central Europe still continues and
the macroeconomy is slowing down in most European markets,
which limits the recovery speed to some extent, the sales
results of the second quarter of 2019 for European Lingerie
Group were at the level of the previous year.
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During 6 months 2019, both 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 products.
While the textiles segment had positive trend in both Q1 and
Q2 2019, the lingerie segment showed a decrease in sales in
Q2 2019 due to the partial shift of sales to Q3 2019.
The Group continues realizing its strategy of vertical
integration, which takes time and bears costs during the
transformation phase of the previous processes.
On the production side, the Group continues investing in its
manufacturing base in order to improve the quality of the
products as well as to offer better and new materials to its
customers.
As a results of these investments the Group will be able to serve
backlog on orders it has in new technologies. Named
investments will gradually convert into cost savings and profit
margin improvement.
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