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The operating profit and profit before tax of the group decreased to €54.978 million and €47.574 million, respectively, while the profit after tax fell to €31.970 million. Earnings per share amounted to €2.40, a decrease from €4.57.
Fenix Outdoor International AG reported a 2.6 per cent decrease in total income to €750.165 million for fiscal 2023, down from €770.143 million in the prior year.
EBITDA also declined to €113.675 million.
The fourth quarter saw income fall by 10.7 per cent to €184.302 million, with losses before and after tax leading to an EPS of minus €0.51.
The fourth quarter saw a more pronounced decrease, with total income falling by 10.7 per cent to €184.302 million. The EBITDA for the quarter dropped to €17.538 million, and the operating result fell sharply to €0.413 million. The group reported a loss before tax of €7.111 million and a loss after tax of €6.841 million. Earnings per share for the quarter stood at -€0.51, contrasting the previous year’s €0.45, the company said in a press release.
“We have ended another quarter of strange trading. The quarter started in the same way Q3 ended. There was a very warm weather in Europe, which meant that a major part of the seasonal sales was lost. It is obvious that the trading in the industry was driven by large inventories in the retail part of the business, general liquidity problem, and heavy discounts again. As usual Christmas sales were hurt by people shopping on discount during Black Friday and Cyber-Monday,” said Martin Nordin, executive chairman.
Fibre2Fashion News Desk (DP)
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