Antichi's international franchise network grows by 40%

02 May '08

3 min read

The Shareholders of Antichi Pellettieri S.p.A. approved the Group's 2007 consolidated financial statements that reflect:
• CONSOLIDATED REVENUES of € 300,2 million compared to € 257,5 million in 2006, reflecting 16,6% revenue growth.
• EBITDA of € 47,8 million vs. € 35,0 million of 2006 reflecting 36,7%.growth.
• EBIT of € 35,9 million vs. € 26,1 in 2006 reflecting 37,3% growth.
• NET INCOME of €26,4 million vs. €12,2 million of 2006 reflecting a 115,7% growth.
• NET FINANCIAL POSITION Debt of € 63,5 million, reflecting a debt/equity ratio of 0,36 vs. 0,41 at December 31, 2006 and an optimal debt/Ebitda ratio of 1,3.

Consolidated revenues for the year ended December 31, 2007 increased to € 300,2 million compared to € 257,5 million generated during 2006.

Revenue growth is primarily attributable to the strong performance of:
• the Group's own brands Baldinini, Francesco Biasia and Braccialini;
• “emerging” luxury markets including Middle Eastern (reflecting 31,8% growth) and Eastern European (including Russia) markets (reflecting 45% growth);
• the retail network with the Group's Directly Operated Stores that registered 21% growth and the Group's international franchise network which grew by 40%. The Group's retail network at December 31, 2007 includes 176 boutiques worldwide; 48 Directly Operated Stores (DOS) and 128 Franchisees, and
• the first time consolidation of Dadorosa, acquired in July, 2007.

EBITDAof € 47,8 million vs. € 35,0 million for the full year 2006, reflecting growth of 36,7% and an Ebitda margin of 15,9% (vs. 13,6% of the full year 2006).

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