Excellent revenue growth at Salvatore Ferragamo in H1

30 Aug '12

4 min read

The Board of Directors of Salvatore Ferragamo S.p.A., parent company of the Salvatore Ferragamo Group, one of the global leaders in the luxury sector, meeting under the chairmanship of Ferruccio Ferragamo, examined and approved the Consolidated Financial Statement as of 30 June 2012, drafted according to IAS/IFRS international accounting principles.

Highlight:

• Total Revenues: 565.1 million Euros (up by 22.9% compared to 459.7 million Euros at 30 June 2011)

• EBITDA1: 104.7 million Euros (up by 25% compared to 83.8 million Euros at 30 June 2011)

• EBIT: 88.4 million Euros (up by 24.7% compared to 70.9 million Euros at 30 June 2011)

• Pre-tax Profit: 88.3 million Euros (up by 37.7% compared to 64.1 million Euros at 30 June 2011)

• Net Profit: 55.9 million Euros (up by 22.5% compared to 45.7 million Euros at 30 June

2011), including Minority Interest Profit for 11.1 million Euros

As of 30 June 2012, the Salvatore Ferragamo Group has posted Total Revenues of 565.1 million Euros, a 22.9% increase at current exchange rates, over the 459.7 million Euros recorded in the first six months of 2011, showing significant growth in all geographical areas, product lines and distributions channels. Revenue growth at constant exchange rate has been 17.8%.

In 2Q 2012 the Total Revenue growth at current exchange rate has been 22.5% (+16.7% at constant exchange rate) vs. 2Q 2011, growing from 249.3 million Euros to 305.5 million Euros.

The 2-year cumulated growth rate on 2010 shows an acceleration on 1Q 2012 (growing 57.4%) with an increase of 61.6% in 2Q 2012.

The Group's excellent Revenue growth – constantly over 20% for the last 9 consecutive quarters – is further confirmation of the success of Ferragamo's strategy: focussing on top quality products and on the “Made in Italy” image, meeting the expectations and demands of its global customers.

All geographical areas delivered significant growth, with the sole exception of Japan, recording an increase of at least 20% at current exchange rates.

The Asia Pacific area is confirmed as the Group's top market in terms of Revenues, with a turnover of 212.4 million Euros (representing 37.6% of total), up by 25.8% on the revenues of the first six months of 2011. This performance was achieved also through the contribution of the retail channel, which in China recorded a growth of 38% compared to the same period in 2011.

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