Van de Velde considers delisting - report (translated)
21 APR 2018
Lingerie retailer Van de Velde NV (EBR: VAN) is considering a delisting, reported Belgian daily De Tijd based on its own analyses. The report cited chairman of the board Herman Van de Velde, saying only a year ago that although an exit is not on the agenda, he doesn't exclude the option.
Analysts speculate on a delisting after Van de Velde announced that its revenue last year didn't grow 5%, like promised, but remains stable. Van de Velde has suffered due to missed chances in e-commerce, the report said.
The share value of Van de Velde tumbled down 6%, to half of the value it had at its peak in 2016.
The Van de Velde family could buy the company back, if it decides to delist. The Van de Velde Holding, via which the founding Van de Velde and Laureys families own over 56% of the company, has no debts and has EUR 43m available.
Van de Velde is listed since 1997 and is valued at EUR 466m. Its revenue is EUR 209m, with a profit of EUR 33.9m. Van de Velde has 5,000 stores worldwide.
Link to original source (De Tijd)