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That’s why Calida sells the company after a little over a year. According to Thursday’s report, sales development at Erlich Textil has deteriorated so much that the continuation of Erlich Textil no longer makes strategic sense for Calida Group. Calida justifies this with a “very depressed” consumer mood.
The Sursee-based group is now even reviewing its medium-term goals: This is due to rising interest rates and sometimes high inflation, as well as ongoing geopolitical uncertainties, according to the company.
Tough framework conditions could have seriously disrupted the development of the venture acquired in February 2022, resulting in a total impairment of CHF 23 to 25 million (including goodwill and brand). These were to be held by 30 June 2023.
Against this background, Calida expects lower sales and operating profit (EBIT) for the first half of 2023 compared to the previous year.
In addition, the current strategy will be reviewed. The “Accelerate 2026” growth strategy envisions slight organic growth and an EBITDA margin of 10 percent. In addition, the dividend should be constantly increased. It was stated that the targets will be subject to a detailed review in the coming months.
At the same time, Calida also announced some staff announcements. Outgoing CEO Timo Schmidt-Eisenhart will definitely leave the company at the end of June 2023.
From 1 July 2023, Felix Sulzberger will also serve as interim Chief Executive Officer of the Board of Directors. Thomas Stöcklin will also be appointed as an Independent Member of the Board of Directors (Chief Director) effective from 1 July 2023.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
