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Mariella Leather Goods performs well in 2007

02 May '08
3 min read

• The good performance of foreign market, in particularly in emerging luxury markets (+36,6%);
• The excellent performance of the boutiques of the Leather Goods division (+21%).

EBITDA reached € 108,9 million compared to € 125,1 million of 2006; net of extraordinary items, the Group realised Ebitda growth of 18%.

Improved EBITDA margins are primarily attributable to operating leverage and economies of scale in the Leather Goods division, further rationalisation in the Apparel division and an improved sales mix for the Group.

EBIT of € 81,7 million vs. € 92,6 million of 2006; net of extraordinary items, Group Ebit realised growth of 23,6%. Net Income of € 51 million vs. € 63,3 million of 2006.

Net Financial Position (net debt) of € 193,4 million vs. € 179,6 million recorded at December 31st, 2006, notwithstanding the significant investments made during the year for the acquisition of the Fashion Jewellery division companies, the acquisition of Dadorosa, net of the proceeds from the sale of the multi brand retail division. The net financial position reflects an optimal debt/equity ratio of 0,67.

DIVIDENDS:
The Shareholders also approved the distribution of an ordinary dividend of € 0,16 per share with an ex-dividend date of May 26th, 2008 to be paid on May 29th, 2008.

BUY-BACK PLAN:
The Shareholders of Mariella Burani Fashion Group S.p.A. approved the extension of the existing buy-back plan that providesfor the purchase and sale of up to 10% of the Group's outstanding common shares.

The plan will be in effect until the shareholders meeting to approve the financial statements for the year ended December 31, 2008.

Share transactions will be effected in markets regulated by Article 132 of Legislative Decree No. 58 dated February 24, 1998 and Article 144-bis,1.B of Consob Regulation 11971/99 as modified by the Market Abuse Directive (“MAD”) in conformance with these markets' operating policies and procedures.

“The Financial Reporting Officer, Giuseppe Gullo, certifies – pursuant to art. 154-bis, paragraph 2 of the Uniform Finance Act (Legislative Decree 58/1988) – that the information contained in this press release corresponds to the accounting documents, ledgers and entries.”

Mariella Burani Fashion Group S.p.A.

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