Management expect operating costs will continue to decrease in the subsequent period as a result of restructuring its operations, which will reduce the negative operating cash flows. These cookies allow the website to operate optimally. Submit your specialised application accompanied by all the elements we’ve asked for. Details of transactions between the Group and other related parties are disclosed below. Deferred tax liabilities at 30 June 2020 amount to €102 thousand (2019: €100 thousand) and relates mainly to the value of unrealised exchange gains. Registered office: Schiphol Boulevard 127, G4.02, 1118 BG Schiphol, the Netherlands, Interim results for the six months ended 30 June 2020. The carrying value of trade receivables approximates their fair value after an accrual for bad debt provision amounting to €1.5 million (2019: €2.3 million). LA PERLA known for its exquisite lingerie, is now dressing homes too. Operating expenses decreased from €38.7 million in the 2019 period to €34.9 million in 2020. There is no material difference between the balance sheet value of stocks and their replacement cost. According to Bain & Company/Altagamma study, the global luxury goods market may have contracted by some 25% in the first quarter of 2020. Neuheiten. They may be used by these companies to generate profiles on your areas of interest and to offer you targeted advertisements on other sites. La Perla Fashion Holding N.V. ("the Company", "Group" or "La Perla") is a public limited company incorporated in Amsterdam, The Netherlands and has its place of business at Schiphol, The Netherlands. The reduction was primarily a product of rent concessions and a smaller store portfolio in the 2020 period. La Perla, through the Operating La Perla Group, is a leading designer, manufacturer and retailer of luxury lingerie, nightwear and swimwear. Before accepting any new customer, the Group uses an external resource to assess the potential customer's credit quality and financial reliability. Balances and transactions between the Company and its subsidiaries, which are related parties of the Company, have been eliminated on consolidation and are not disclosed in this note. Discover beautiful Italian silk and lace lingerie, slips & dresses, bodysuits & bustiers and more. The rent concessions negotiated with lessors due to the consequences of the Covid - 19 pandemic were immediately recognized in the income statement as negative variable lease payments rather than as an amendment to the associated leases as described in Note 6 to the condensed consolidated interim financial statements. The provision for restoration costs amounting to €5.3 million (2019: €5.8 million) includes the estimated cost of restoring the leased assets where required by the terms and conditions of the lease agreements. If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware. Given the ongoing Covid-19 crisis and the uncertainty in relation to further impact on the economy and consumer spending, the Group cannot adequately determine the future effect on its business. EBITDA is calculated as Operating Profit/Loss before amortization and depreciation and, Lease payments of €8.8 million in HY 2020 and €12.9 million in HY 2019 (restated) are categorized under Cash flow from financing activities, Net financial debt calculated as Long term borrowings plus Short term borrowings minus Cash and cash equivalents. Dubai Design District, Building 4, Tower A, Floor 2 Office 204,P.O. By signing up, you may also receive practical or promotional information relative to our activities (MAISON&OBJET, MAISON&OBJET PARIS, MOM – MAISON&OBJET AND MORE, PARIS DESIGN WEEK). LA PERLA known for its exquisite lingerie, is now dressing homes too. eneration to generation and the experience deriving from it, between the craftsman’s knowledge and the prodigy of technology, between the wonder of invention and the discovery of precious details, colors and new sensations. Net loss for the period of €41.3 million (six months 2019: loss of €44.4 million) has been arrived after (charging)/crediting: Depreciation of property, plant and equipment, Impairment of property, plant and equipment, Cost of inventories recognised as expense, Reversal of write downs of inventories recognised in the period, Write downs of inventories recognized as an expense, Impairment (loss) / release recognised on trade receivables, 6. This was driven by reduced marketing and selling expenses largely related to store closures, partially offset by increased G&A expenses due to incremental IT investment and the initial operating expenses of La Perla Beauty. Shop luxury lingerie, ready-to-wear, nightwear, beachwear and accessories Box 333292, +971 44516083 | [email protected] OFFICE WORKING HOURSSun-Thu : 9AM – 6PM | Fri - Sat : Closed, Copyright 2020 BALMESSENCE. Hotel La Perle is rated "Superb" by our guests. La Perla Perfume and Cologne. have been accounted for as recurring expenses. ), the allocation of visitor origins, and visitor statistics that are useful to help us improve our services. Europe and the Americas closed starting from mid-March. Paris Design Week invites you to step right in. Fancy joining the community?! The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group's annual consolidated financial statements as at 31 December 2019.