Net income surges to €12.2 mn at Antichi Pellettieri

20 Apr '07

2 min read

The Shareholders of Antichi Pellettieri SpA, quoted on the Expandi segment of the Italian Stock Exchange in June, 2006, approved the consolidated financial statements of the Group for the year ended December 31, which indicate Consolidated:

• Revenues of €257.5 million (+68%) compared to €153.6 million of 2005
• Ebitda of €34.9 (+72%) from €20.3 million of 2005
• Ebit of €26.2 million (+69.6%) from €15.4 million of 2005
• Pretax Income of €18.8 million (+97.8%) compared to €9.5 million of 2005
• Net Income of €12.2 million (+148.5%) from €4.9 million of 2005

The 2006 consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) based on principles issued by the International Accounting Standards Board (IAS).

Financial Highlights 2006:
Revenues increased by 68% to €257.5 million from the € 153.6 million generated 2005, confirming the Group's leading position in the accessories segment of the European accessible luxury goods market.

30% organic revenue growth was primarily driven by the Group's:
• Strong performance in emerging luxury goods markets (+34%) including Russia, Eastern Europe, Middle and Far East,
• Increased revenues from direct distribution channels (+40%) including boutiques (DOS and Franchisees) that realised 24% organic growth during the period,
• The strong performance of the Baldinini, Francesco Biasia, and Braccialini brands.

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