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Luxury brand Salvatore Ferragamo sales up 9% in Q1
15
May '13
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 Interim Report as of 31 March 2013, drafted according to IAS/IFRS international accounting principles.

Highlights:
-Total Revenues: 282 million Euros (+9% vs. 260 million Euros at 31 March 2012)
- EBITDA1: 48 million Euros (+26% vs. 38 million Euros at 31 March 2012)
- EBIT: 39 million Euros (+29% vs. 30 million Euros at 31 March 2012)
- Net Profit: 27 million Euros (+57% vs. 17 million Euros at 31 March 2012), including 2 million Euros of Minority Interest
- Group Net Profit: 24 million Euros (+103% vs. 12 million Euros at 31 March 2012)

Consolidated Revenue figures

As of 31 March 2013, the Salvatore Ferragamo Group has posted Total Revenues of 282 million Euros, with a 9% increase at current exchange rates, over the 260 million Euros recorded in 1Q 2012. Revenue growth at constant exchange rate has been 10%.

The solid growth registered in the first three months of 2013 is even more relevant considering that in the same period of 2012 Revenues had already increased by over 23%.

Revenues by geographical area

The Asia Pacific area is confirmed as the Group's top market in terms of Revenues, with a turnover of 102 million Euros (about 36% of total), further increasing by 6% vs. a particularly challenging comparison base (+27% in 1Q 2012). A major contribution came, once more, from the retail channel in China, that recorded a Revenue growth of 20% in 1Q 2013.

Europe, further confirming the exceptional brand awareness of Ferragamo and its ability to attract the interest of the global tourist flows, posted an increase in Revenues of 10% compared to the same period in 2012.

North America continued the solid growth trend registered in the past quarters, recording a Revenue increase of 19% compared to the same period of 2012.

The Japanese market increased 4% at constant exchange rates, registering a decrease of 8% at current exchange rates due to the unfavourable impact of the Japanese Yen fluctuation vs. Euro.

Revenues in the Central and South America area also showed excellent results with an increase of over 13%.

Revenues by distribution channel

As of 31 March 2013, the Salvatore Ferragamo Group's Retail network could count on 339 Directly Operated Stores (DOS), while the Wholesale and Travel Retail channel included 261 Third Party Operated Stores (TPOS), as well as presence in Department Stores and high-level multi-brand Specialty Stores.

In 1Q 2013 the Retail distribution channel posted consolidated Revenues of 172 million Euros, with a 7% increase over the 160 million Euros posted as of 31 March 2012. The growth marked a 5.9% increase at constant exchange rates and perimeter (like-for-like) in 1Q 2013.

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