KMD Brands, the parent company of outdoor brands Kathmandu, Rip Curl, and Oboz, has reported a 74.3% decline in underlying ebitda for the first half of the 2025 financial year.
The company's underlying operating expenses were up 4.2% to $271.6 million, while group sales increased by 0.5% to $470.9m.
KMD Brands attributed the sales growth to an improved trend in the direct-to-consumer channel, particularly online, which achieved double-digit sales growth for all three brands.
However, wholesale sales recovery has been slower due to cautiousness among wholesale accounts.
The company's gross margin decreased by 0.3% of sales to 58.5%.
KMD Brands reported a statutory net profit after tax loss of $20.7m and an underlying npat loss of $16.1m.
It ended the period with $76.2m of net debt, $20m lower than the previous year.
No interim dividend was declared.
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