Acquisition creates loss for Hunkemöller

Acquisition creates loss for Hunkemöller
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Lingerie chain Hunkemöller’s turnover grew in the past fiscal year, but costs related to the Carlyle Group acquisition, led to an overall loss.

Online growth

The company’s turnover reached 398.5 million euro in the past fiscal year, almost fifty million euro more than in the previous year. However, the past fiscal year was two months longer than the one in 2015.

 

More than 40 % of turnover, some 170.6 million euro, came from Germany, its largest market. The Netherlands generates 104.7 million euro in sales, Belgium 60.7 million and Denmark 17.1 million euro.

 

Hunkemöller says it gained market share in every major market, partially thanks to a strong online surge and another 104 new stores. It currently operates 775 stores in more than 25 countries and it hopes to have reached 1,300 stores by 2020.

 

Unfortunately, because of Carlyle’s acquisition, Hunkemöller’s small profit (221,000 euro) was turned into a 3.6 million euro loss. Its EBITDA did reach 13.4 million euro, but that is also a slump compared to the year before, when it reached 35.5 million euro.

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