Van de Velde NV

Earnings Release • Jan 8, 2015

08.01.2015 –Press release Annual turnover up 7.2% at Van de Velde

Consolidated turnover (1) at Van de Velde rose by 8.8% in 2014 (from €182.4m to €198.5m).

On a like-for-like basis (including comparable deliveries) consolidated turnover (1) is up 7.2%. This turnover growth consists of the following components:

• 9.7% growth in wholesale turnover. This growth is driven by the very successful launch of PrimaDonna Swim and the strong growth in lingerie.
• A fall in retail turnover at Intimacy by 16.7% (12.0% on a like-for-like basis) in local currency.

The turnaround at Intimacy remained elusive in the second half of 2014. Any additional impact on the carrying value of the intangible assets with regard to Intimacy (after the impairment at half-year) will be examined during the year-end closing.

Van de Velde acquired the remaining 15% of Intimacy shares from the Nethero family in early 2015 and now has a 100% shareholding in Intimacy.

• In continental Europe retail turnover rose by 20.6%, especially due to strong like-for-like growth in Germany (14.8%) and the Netherlands (14.1%). Furthermore, the one-time Donker stores are included over 12 months in 2014 versus 9 months in 2013.
• Retail turnover at Rigby & Peller in the United Kingdom rose by 6.9% (1.8% on a like-for-like basis) in local currency. The strengthening of the UK pound against the euro means the rise in euros is higher.

The results for the fiscal year 2014 will be announced on Tuesday 24 February 2015.

(1) Drawn up in accordance with IFRS and not yet audited.

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 America.

For more information, contact:

Van de Velde NV 09 365 21 00 www.vandevelde.eu	Stefaan Vandamme CFO	EBVBA 4F, always represented by Ignace Van Doorselaere CEO