June 23, 2017 9:25 AM ET

Textiles, Apparel and Luxury Goods

Company Overview of Billabong International Limited

Company Overview

Billabong International Limited engages in the marketing, distribution, wholesale, and retail of apparel, accessories, eyewear, wetsuits, and hard goods in the board sports sector in the Asia Pacific, the Americas, Europe, and internationally. The company provides surf, skate, snow, and sports apparel, accessories, and hardware products under the Billabong, Element, RVCA, Kustom, Palmers, Honolua, Xcel, Tigerlily, and Von Zipper brand names. It also licenses trademarks; and operates online retail e-commerce. The company distributes its products through specialized board sports retailers and company own branded retail outlets. As of June 30, 2016, it operated 407 retail stores under various b...

1 Billabong Place

Burleigh Heads, QLD 4220

Australia

Founded in 1973

Phone:

61 7 5589 9899

Fax:

61 7 5589 9800

Key Executives for Billabong International Limited

Chief Executive Officer, Managing Director and Executive Director
Age: 54
Total Annual Compensation: A$1.2M
Head of Americas Ratail Operations and Global President of Brand Billabong
Total Annual Compensation: A$830.2K
General Manager of Asia Pacific
Total Annual Compensation: A$415.4K
General Manager of Europe
Total Annual Compensation: A$408.7K
Consultant
Total Annual Compensation: A$256.3K
Compensation as of Fiscal Year 2016.

Billabong International Limited Key Developments

Billabong Announces Executive Changes

Billabong has appointed ex-Nordstrom executive Jim Howell as its new chief financial officer to replace Peter Myers. Howell, who has spent the past 10 years leading the finance and treasury division at US retail giant Nordstrom, will be based in California and takes up his new role on June 12, 2017.

Billabong International Limited Reports Earnings Results for the First Half Ended December 31, 2016; Reaffirms Earnings Guidance for the Fiscal 2017

Billabong International Limited reported earnings results for the first half ended December 31, 2016. The company reported sales revenue of AUD 508.3 million, EBITDA of AUD 18.8 million, EBIT of AUD 4.2 million, less before tax of AUD 12.2 million, net loss attributable to members of AUD 16.1 million. Net cash inflow from operating activities was AUD 27.3 million against AUD 12.3 million a year ago. Payments for capex were AUD 12.1 million against AUD 22.1 million a year ago. Net debt increased from AUD 185.2 million as at 30 June 2016 to AUD 186.1 million, the increase includes payment in kind interest of AUD 8.3 million for the period. Group EBITDA of AUD 29.3 million affected by factors in APAC & Europe: unseasonal weather in Australia led to a soft start through October, last of the adverse APAC currency impacts from low AUD, unusual drop in orders by Middle East distributor as inventory levels reset and late arrival of cooler weather affected European sales. The group's previous guidance of EBITDA in the AUD 60-65 million range for the 2017 financial year needs to be updated for the sale of Tigerlily which will be treated as a discontinued operation in the 2017 full year results. This treatment is expected to reduce the Group's continuing business EBITDA reported for the 2017 financial year by approximately AUD 8 million, which represents Tigerlily's full twelve month EBITDA contribution to the Group. Accordingly, the Group affirms the 2017 financial year EBITDA guidance provided at the AGM in November, but for the adjustment to exclude Tigerlily EBITDA for the year. This equates to an updated EBITDA range for continuing operations for the 2017 financial year of AUD 52-57 million (excluding significant items).

Catterton Is In Talks To Buy Tigerlily

L Catterton Asia is in negotiations to buy Tigerlily Swimwear Pty Ltd. from Billabong International Limited (ASX:BBG), which was put up for sale in November 2016, and wants to change the name of Seafolly's Sunburn chain to increase its appeal with sun-shy Asian consumers.

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Recent Private Companies Transactions

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Date
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February 23, 2017
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June 29, 2016
Sector 9 Inc.
 

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