Dr. In its report for the first half of the 2024/2025 financial year (ending: September 29), Martens reported a decline in sales of 18% compared to the same period last year. Sales fell from 395.8 million British pounds to 324.6 pounds. Adjusted for currency effects, the decline is 16%. D2C sales fell by 7% (5% at constant currencies), wholesale sales fell by 29% (27% at constant currencies). The D2C share of sales increased from 49.6% to 56.4%, and adjusted EBIT fell from -2.4 million pounds to -4.3 million pounds.
The result corresponds to the forecast for the first half of the year, which was a decline in sales of around 20%. CEO Kenny Wilson said in the report that he was satisfied with the debt reduction. Net debt fell 27% from £478.9m to £348.7m. Dr. In the last annual report, Martens described the 2024/2025 financial year as a transition year, as full wholesale supplies could not yet be achieved again this year. The company announced that the course would become visible in the 2025/2026 financial year.
