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Safilo Q1 net profit rises 163% on higher sales
15 May '06
2 min read
The Board of Directors of Safilo Group SpA today reviewed and approved the consolidated results relating to the first quarter of 2006 which highlight an increase in turnover and extremely strong growth of net profitability.
Net sales, as previously announced, reached €302.1 million (+7.5 percent at current exchange rates, +3.3 percent at constant exchange rates compared to the first quarter of 2005) thanks to particularly impressive performance in America (+19.4 percent) and Asia (+17 percent).
Operating income has also increased, with an EBITDA of €52.9 million, a clear improvement (+9.1 percent) compared to the same period of the previous year and with a percentage on turnover of 17.5 percent.
These positive results have been achieved thanks to the ever increasing success obtained by the Group's collections internationally, to its strong commercial presence in over 130 countries and to the Group's cost containment policies at an industrial level.
The extremely positive net income achieved in the quarter (€17.0 million with an increase of more than 160 percent compared to the same period in 2005) is thanks also to the lesser impact of financial costs which are no longer encumbered by exceptional circumstances which penalised previous quarters.
The Group's financial position, slightly increased compared to the end of 2005 due to the normal seasonality of the working capital, however highlights a greatly improved cash flow management compared to the first quarter of the previous year.
Net sales, as previously announced, reached €302.1 million (+7.5 percent at current exchange rates, +3.3 percent at constant exchange rates compared to the first quarter of 2005) thanks to particularly impressive performance in America (+19.4 percent) and Asia (+17 percent).
Operating income has also increased, with an EBITDA of €52.9 million, a clear improvement (+9.1 percent) compared to the same period of the previous year and with a percentage on turnover of 17.5 percent.
These positive results have been achieved thanks to the ever increasing success obtained by the Group's collections internationally, to its strong commercial presence in over 130 countries and to the Group's cost containment policies at an industrial level.
The extremely positive net income achieved in the quarter (€17.0 million with an increase of more than 160 percent compared to the same period in 2005) is thanks also to the lesser impact of financial costs which are no longer encumbered by exceptional circumstances which penalised previous quarters.
The Group's financial position, slightly increased compared to the end of 2005 due to the normal seasonality of the working capital, however highlights a greatly improved cash flow management compared to the first quarter of the previous year.
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