Van de Velde NV

Business and Financial Review • Apr 19, 2017

19.04.2017–Trading update

Van de Velde expects a lower EBITDA for 2017 through a combination of stable turnover and accelerated investments to support future growth.

As a consequence of the challenging retail environment in the markets and channels where Van de Velde is traditionally active and the negative effect of the evolution of the British pound, Van de Velde expects that total turnover in 2017 will not grow compared to 2016.

Therefore Van de Velde accelerates its investments in areas which will contribute to the further international growth potential of the company a.o. in the areas of:

• positioning of its brands & marketing and development of new channels
• development of eCommerce & digital, including an up-to-date IT-architecture
• increase of the agility and delivery reliability of the supply chain.

At the same time there is a further investment in developing the capabilities of its employees and attracting additional talent to enable the above mentioned areas.

These investments in the future will result in higher expenses in 2017 and 2018. These will only translate into sustainable growth of turnover and profitability of Van de Velde in the coming years.

Van de Velde NV is a leading player in the luxury and fashionable women's lingerie sector. Van de Velde is convinced of the merits of a long-term strategy based on developing and expanding brands around the "Lingerie Styling" concept (fit, style and fashion), especially in Europe and North

For more information, please contact:

Van de Velde NV 09 365 21 00 www.vandevelde.eu Bart Rabaey Consulting VOF, always represented by Bart Rabaey CFO Positron BVBA, always represented by Erwin Van Laethem CEO