FNG Group records €251.1 million in revenue during first six months of 2018
Belgian-Dutch fashion group FNG announced today that it recorded a revenue of €251.1 million during H1 2018, an increase of 10% compared to H1 2017.
REBITDA came in at €25.1 million during H1 2018, a 30.2% increase, compared to the same period last year when the group recorded REBITDA of €19.3 million.
The group said that 48.3% of the group revenue for H1 2018 was generated by FNG Roots, the brand portfolio of FNG Group. Dutch clothing retailer Miss Etam contributed revenue of €51.9 million, 20.7% of the group revenue. The revenue of Belgian footwear retailer Brantano came in at € 77.9 million, which is 31.0% of the group revenue. Revenue of FNG Roots increased by 1.1%, compared to H1 2017.
Furthermore, in the first half of 2018, Miss Etam reported a REBITDA of €2.5 million and Brantano reported a REBITDA of €5.8 million, an increase of 63.3% and 166.3%, respectively. Additionally, FNG Group said that FNG Roots also reported strong performance and increased REBITDA, which reached €16.8 million, a 7.8 percent increase.
Dieter Penninckx, CEO of FNG Group, commented: “FNG achieves for the first time sales of €500 million on an annual basis and a REBITDA margin exceeding 10% for the entire group. This is achieved by focusing on digitalization, in-depth vertical integration and the development and rollout of new retail concepts. Miss Etam and the new Brantano are back on the radar. The unusual market circumstances emphasizes the strengths of FNG in the back and front office, with an outcome that is to be applauded.”
FNG Group is the owner of both Belgian and Dutch fashion retailers, including Miss Etam, Brantano, Expresso and Promiss. The company operates a total of 10 brands via 500 standalone stores, shop-in-shops and over 1,500 multi-brand stores internationally. The group is listed at Euronext Brussels and Euronext Amsterdam and has offices in Belgium and the Netherlands.
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