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Globe International reports their full year results
Industry Updates
Globe cited lower gross margins but also expanded into lifestyle skateboards, apparel and more
Surfersvillage Global Surf News, 30 August, 2012 : - - Globe International, based in Australia, reported full year results this week. Globe owns its namesake brand and a roster of other skate brands under the Dwindle Distribution umbrella. Despite the challenging year, the company said it was pleased it was able to invest in new areas of its business such as Globe lifestyle skateboards and Globe apparel, which performed well, as did Enjoi apparel and the 4Front Clothing division in Australia.
TOTAL COMPANY RESULTS (All figures in Australian dollars)
Sales: $82.3 million, flat in constant currency; EBITDA: $1.7 million, down 41.3%. Globe cited lower gross margins due to sales mix, competitive pressures and increased cost of goods for the EBITDA decline; Net Profit After Tax: $0.1 million vs. $1.1 million the same period last year; Cash reserves: $10.2 million; Debt: none
NORTH AMERICA
Sales: $41.7 million, down 15% *EBITDA: $1.7 million, down 49%
EUROPE
Sales: $16.1 million, up 7.7% *EBITDA: $973,000, up 350%
AUSTRALASIA
Sales: $24.9 million, up 4.3% *EBITDA: $2.1 million, down 4.2%
* Note: EBITDA in the regional segments excludes central corporate costs.
Source BoardSportSource
Tags: Globe, Shoes, Business Updates,
Industry: Surfersvillage
