The Board of Directors of Brunello Cucinelli S.p.A. – an Italian maison operating in the luxury goods sector, listed on 27th April last year on the Borsa Italiana Electronic Stock Exchange –reviewed and approved the consolidated financial statements and draft separate financial statements for the year ended December 31st 2012.
The Group’s net revenues for 2012 reached € 279.3 million, an increase of 15.1% (+13.3% at constant exchange rates) over the € 242.6 million earned in 2011. Revenues, including other operating income, closed at € 281.4 million, a rise of 15.6% over the previous year.
The Board additionally resolved to propose to shareholders the distribution of a dividend of € 0.08 per share. The dividend will be put into payment on May 23rd 2013, with the share going ex dividend on May 20th 2013.
- Net revenues of € 279.3 million (+15.1%);
- Normalized net profit1 of 26.5 million (+26.2%);
- Normalized EBITDA1 of 49.1 million (+22.3%);
- A significant rise in overseas turnover (+25.5%), which represents 75.4% of total revenues, and a limited reduction in Italy (-8.2%);
- Very good results in all distribution channels: retail monobrand +42.9%, wholesale monobrand +20.3%, multibrand +5%;
- Net debt of € 1 million (compared to € 48 million at 31st December 2011);
Capital expenditure of € 27.3 million, mainly concentrated on developing the monobrand network (81 stores at the end of 2012), and the starting of the important project to extend the factory and the logistics hub.
The Board of Directors will propose to the shareholders meeting the distribution of a dividend of € 0.08 per share.
Brunello Cucinelli, Chairman and CEO of the Group, commented as follows: “2012 has been a particularly special year in Brunello Cucinelli Spa’s history, a year in which we have made our debut on the Stock Exchange and laid the foundations for a healthy and longlasting growth in the years to come.
The 2011-2015 major investment plan is bearing fruits: we have achieved excellent results in terms both of sales and operating profit. But perhaps what most fascinates us is the image enjoyed by our brand worldwide in the so-called absolute luxury world: a beautiful, healthy image of products featuring quality, craftsmanship and, hopefully, creativity and exclusivity of our made in Italy.
The order collection for fall/winter 2013 has come to a very positive end and our collection, this is what matters the most, has been considered modern and contemporary. All this leads us to envisage a very interesting 2013 in terms of revenues, profit and image.
This seems to be a very interesting time for our marvellous Italy, the homeland to many respectable people that work with daily patience, sacrifice and dedication to improve mankind. The seed of economic, moral, civil and human renewal has sprouted”.