Australian surfwear retailer Billabong International Ltd. (BLLAF.PK,BBG.AX) reported first half net loss after tax of A$536.6 million, compared to a profit of A$16.1 million last year.
The company specified that the latest result was impacted by A$567.0 million of significant items, including A$427.8 million non-cash impairment for goodwill and brands, and A$106.6 million relating to a non-cash write down of its investment in Nixon.
Net profit after tax excluding significant items was A$19.2 million, down from A$38.3 million last year.
EBITDA excluding significant items rose to A$57.2 million from the prior year's A$52.1 million while EBIT excluding significant items increased to A$36.4 million from A$32.0 million reported a year ago.
Sales for the first-half declined to A$699.6 million from A$761.6 million in the year-ago period.
The company stated that there will be no dividend paid in respect to the 2013 financial year.
Looking ahead, the company now expects full year underlying EBITDA to be in the range of A$74 million to A$85 million in constant currency terms, down from the prior expectations of A$85 million to A$92 million.
"The Group has continued to face difficult trading conditions in Europe and the performance of Nixon has not met expectations. Performance of the rest of the group remains broadly in line with expectations," Billabong added.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.