Jul 20, 2022
Bimba y Lola doubles its Ebitda in 2021 and achieves a profit of €16 million
Jul 20, 2022
The Bimba y Lola clothing firm has managed to double its Ebitda in fiscal year 2021, reaching €34.1 million, leading to a net result of €15.7 million, 413% higher than in 2020.
It also accumulated revenues of €216.5 million, which represents a significant increase of 31% over the previous year's figures.
According to the company, these figures represent the "complete recovery" of business operating margins, achieving profitability levels "very close" to those prior to the covid-19 pandemic.
This has been the case, Bimba y Lola added, despite the fact that net profit was impacted by exceptional write-offs and provisions caused by store closures and the cancellation of the brand's launch in Russia.
In terms of revenue, 2021 saw a strong recovery in store traffic and sales (+54% vs. 2020) and a stable digital channel, which accounted for 22% of sales.
The brand's international growth also boosted earnings, with foreign sales now accounting for 38% of the group's total.
By the end of 2021, Bimba y Lola had 271 points of sale in 20 countries and expanded its presence to 43 countries through the development of its digital channel.
Bimba y Lola's CEO, José Manuel Martínez, pointed out that this return to profitability has allowed them to "reactivate" their expansion and investment plans worldwide, with which they seek to position the company "as a global brand".
© EFE 2023. Está expresamente prohibida la redistribución y la redifusión de todo o parte de los contenidos de los servicios de Efe, sin previo y expreso consentimiento de la Agencia EFE S.A.