Globe International total sales fell by 15 percent (-17% in constant currency) to A$234.34 million (€139.0m) for the FY ended June 30. Excluding hardgoods, annual revenues rose by 2 percent in constant currency. Ebit declined by 83 percent to A$4.62 million (€2.74m) or 2.0 percent of revenues versus 10.0 percent in the prior FY. Meanwhile, annual net profit slipped by 92 percent to A$ 1.56 million (€924,865) from A$18.64 million.
Despite the results, the group said its footwear and apparel brands, including FXD, Salty Crew, and It’s Now Cool, have continued to grow post-pandemic despite a challenging global economic environment.
On a regional basis, Australasia was the most stable, profitable region with Ebit of A$16.65 million (€9.88m) despite a 6.9 percent drop in revenues to A$112.36 million (€66,7m). Europe suffered an A$5.83 million (€3.5m) Ebit loss on a 30 percent year-over-year decline in sales to A$27.89 million (€16.5m). North American FY sales slipped by 17 percent to A$94.09 million (€55.8m) but reported Ebit of A$154.00 million (€91.4m).
