German group Seidensticker celebrates growth in sales
The Bielefeld-based company Seidensticker, owner of brands Seidenticker, Schwarze Rose, Jacques Britt and Redford, released on Thursday its 2014-2015 fiscal year results. The German group posted a 6.5% growth in sales to €199 million, well above the underlying trend.
Despite non-recurring expenses, the past fiscal year meant a significant improvement for Seidenticker’s operating profits. EBITDA increased 77% to €9.4 milllion, while EBIT plunged 241% to €5.6 million. Overall, the consolidated net loss amounted to €3.4 million, representing an increase of 13.2% from the previous year.
Further details on Seidenticker’s financial results will be will be available at the company’s website on October 12.
The group’s own luxury shirts company, Seidenticker, is Germany’s most popular shirtsmaker and employes over 2,800 people. Founded in 1919, the German group manufactures over 14 million pieces a year, of which 39% is exported. The company is 100% owned by the Seidensticker family, and managed by Gerd Olivier, Frank Seidensticker, Dr. Silvia Bentzinger and Martin Friedrich.
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