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Salvatore Ferragamo H1 revenues rise 11%
30
Aug '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 Financial Statement as of 30 June 2013, drafted according to IAS/IFRS international accounting principles.

Highlights:

- Total Revenues: 625 million Euros (+11% vs. 565 million Euros at 30 June 2012)
- EBITDA1: 131 million Euros (+26% vs. 105 million Euros at 30 June 2012)
- EBIT: 112 million Euros (+26% vs. 88 million Euros at 30 June 2012)
- Net Profit: 87 million Euros (+55% vs. 56 million Euros at 30 June 2012), including 6 million Euros of Minority Interest
- Group Net Profit: 81 million Euros (+81% vs. 45 million Euros at 30 June 2012)

Consolidated Revenue figures

As of 30 June 2013, the Salvatore Ferragamo Group has posted Total Revenues of 625 million Euros, with a 11% increase at current exchange rates, over the 565 million Euros recorded in 1H 2012. Revenue growth at constant exchange rate has been 12%.

In 2Q 2013 the Total Revenue growth at current exchange rate has been 12% (+13% at constant exchange rate) vs. 2Q 2012, growing from 305 million Euros to 343 million Euros.

The solid growth registered in the first six months of 2013 is even more relevant considering that in the same period of 2012 Revenues had already increased by 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 240 million Euros (about 38% of total), further increasing by 13% vs. a particularly challenging comparison base (+26% in 1H 2012) and significantly accelerating the 1Q performance. A major contribution came, once more, from the retail channel in China, that recorded a Revenue growth of 30% in 2Q 2013, further confirming the strong trend registered in 1Q.

Europe, validating the exceptional brand awareness of Ferragamo and its ability to attract the interest of the global tourist flows, posted an increase in Revenues of 14% compared to the same period in 2012, accelerating the 1Q performance.

North America recorded a Revenue increase of over 15% in the first six months of 2013, confirming also in the 2Q the long trend of double-digit growth.

The Japanese market increased 2% at constant exchange rates, though registering a decrease of 13% at current exchange rates, due to the unfavourable impact of the Japanese Yen fluctuationvs. Euro.

Revenues in the Central and South America marked an increase of over 7% in 1H 2013, thanks to the positive contribution of the retail channel (+17%), while the wholesale performance was affected by the conversion of the points of sale in Brazil to directly operated stores.

Click here to read full results

Salvatore Ferragamo


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