Millions lost: Calida expects to be in the red in 2023

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In a media statement on Tuesday, Calida wrote that US lingerie brand Cosabella was being re-evaluated as part of its strategy review. The brand, which was taken over in 2022, fell “significantly” behind the targets set at that time. Therefore, a value adjustment of 33 to 43 million francs would now be made and an additional expense of 6 million francs would be recorded.

In the first half of the year, the company had already written off 19 million francs for the acquired Erlich Textil. One-off expenses of 61 to 71 million francs are said to result in losses on a group basis this year. However, only 5 million of these expenditures are cash active.

Going forward, Calida wants to further intensify online business with its Calida, Aubade, Lafuma Mobilier and Cosabella brands. However, the multi-brand online store “onmyskin.com” will be discontinued, which will entail transaction costs of approximately 3 million francs.

Chief Executive Officer Felix Sulzerberger said in a statement that the focus in the coming years will be on “robust organic growth and an above-average EBIT margin.” Sulzberger took over the CEO position at Calida on an interim basis in July and announced an in-depth strategy review.

In particular, the medium-term target of 10 percent EBIT margin for 2026 is still valid, while the dividend policy of distributing “at least half” of the free cash flow generated should also be maintained.

The company also announced that Eric Sibbern will retire from the board following the completion of the strategy review. He will focus on his operational activities at Veraison. According to the latest information, Veraison holds almost 10 percent of Calida.

(SDA)

Source :Blick