The results for the first nine months consolidate the results reported in the first half of the year, consistent with the path of sustainable growth and healthy profitability representing the Group’s strategy and long-term approach.
- Net revenues of € 251.7 million (+14.3% compared to net revenues at 30th September 2012);
- EBITDA of € 45.8 million (+15.0% compared to normalized EBITDA1 for the first nine months of 2012);
- Significant growth in the international markets is confirmed (+20.5%), driven by sales in the USA (+26.4%) and in Europe (+19.2%), accompanied by the increase in Greater China (+16.7%), Rest of the World (+9.3%), and the slight fall in the results on the Italian market (-2.6%);
- A significant investment plan, an increase to € 34 million over the € 16.7 million at 30th September 2012, directed towards the extension of the factory at Solomeo and the monobrand store network, with a corresponding increase in depreciation and ammortization (€ 8.3 million at 30th September 2013, compared to € 4.7 million at 30th September 2012);
- Net profit of €23.5 million (+10.2% compared to normalized net profit1 for the first nine months of 2012);
- Net debt of €23.6 million (€14.4 million at 30th September 2012) as a consequence of the investment plan, positively affected by healthy working capital management.
Net revenues for the first nine months of 2013 reached € 251,7 million, a rise of 14.3% (+15.9% at constant exchange rates) compared to € 220.2 million for the nine months ended 30th September 2012.
Revenues including other operating income totaled € 253.4 million for the nine months ended 30 September 2013, an increase of 14% over the € 222.2 million posted in the corresponding period of the previous year.
Revenues by Geographical Area
The absolute charm of the exclusivity of top range Italian products, concentrated in the “informal luxury” clothing segment, has driven the Group’s sales results up in the prestigious boutiques in the leading fashion capitals, resorts and luxury department stores.
In addition, market dynamics confirm rising demand coming from the more sophisticated consumer, a person characterized by having a developed taste and being increasingly attentive to the issues of sustainability and ethics as far as revenues and profits are concerned.
The reported results highlight two different drivers of growth, namely local consumer demand and the important contribution made by foreign tourists to the turnover achieved in the first nine months of 2013.
Click here to read full results
Textiles | On 19th Jun 2018
The requirement of polyester filament yarn (PFY) is increasing as it...
Textiles | On 19th Jun 2018
The Sustainable Apparel Coalition (SAC) will release this year a...
Apparel/Garments | On 19th Jun 2018
Noon, the $1 billion e-commerce venture backed by Dubai businessman...
Fashion houses, India
With technology, it has become easier to ensure IPR
‘In future, clothing boundary lines will become increasingly blurred.’
Sanjay Desai & Ashish Mulani
Digital textile printing will be the technology of the future
Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...
Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....
Aizome, Asia's first Fairtrade denim brand, is all set to launch next...
Iago Castro Asensio
RCfil Distribuciones S.L.
Iago Castro Asensio, International Business Manager of RCfil...
Technical Absorbents Ltd
Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...
Coating at a fibre level is a practice not usually seen in the...
"We should not compare India and the West. There are things we do that...
Golfwear and menswear brand Devereux is set for greener pastures. Robert...
Divvya and Nidhhi Gambhir
<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...