Billabong International Limited today announced a
16.5% increase in net profit after tax to AUS$145.9 million ($109.9 mm) for the year ended June 30,
2006.
Group EBITDA of AUS$235.2 million ($177.2 mm) was 19.2% up on the prior year, while earnings per
share lifted 16.1% to 70.8 cents per share.
The result was struck on global sales of AUS$1.02 billion ($786.6 mm), a rise of 21.1%, and was driven
by very strong performances in the key international territories of the Americas and
Europe as well as higher sales in Australasia.
Billabong International chief executive officer Derek ONeill said it was a milestone
result and again demonstrated the global strength of the Company and its brands.
“This is a result built on very strong sales growth across the brands in the Americas
and Europe and underpinned by a solid performance in the key market of
Australasia,” said Mr ONeill.
“The Company achieved several new performance benchmarks, with Group sales
surpassing $1 billion for the first time, reported sales surpassing $500 million in the
Americas and $200 million in Europe and Australasian sales approaching $300
million.”
Sales in the Americas totaled $385.7 million, a rise of 30.4% on the prior year. As
measured in Australian dollars, sales lifted 32.8% to $521.9 million.
Europe had a strong second half to take full year sales to 120.1 million ($151.5 mm), up 20.3%.
In Australian dollar terms, sales lifted 17.0% to $201.1 million.
Sales in the Australasian region increased 7.1% to $295.2 million ($222.4 mm), a strong result on
the back of the 43.1% increase in the prior year.
At an EBITDA level, the Americas increased 35.0% and Europe increased 36.4% in
local currency terms. EBITDA margins lifted sharply in Europe to 17.6% (from 15.5%
in the prior year), the Americas lifted to 19.1% (from 18.5%) and Australasian
margins remained extremely strong at 32.2% (from 34.1%).
Mr ONeill said the Company was well positioned to maintain its growth profile and, in
the absence of any unforeseen exceptional circumstances, the outlook for 2007 is for
robust revenue growth in the Americas and Europe and more moderate growth in
Australasia.
The Company expects to achieve 15% earnings per share growth in the 2006-07
financial year, he added.
