Antichi's international franchise network grows by 40%

02 May '08

3 min read

2006 EBITDA reflects extraordinary expenses incurred for the IPO of Antichi Pellettieri. 2007 EBITDA benefited from increased operating leverage, economies of scale within the Group, and an improved sales mix evidenced by the weight of revenues generated from:
• own brands which represented 86% of consolidated revenues;
• export sales which represented 61% of consolidated revenues with emerging luxury markets representing 40% of the total;
• direct distribution channels that represented 58,7% of consolidated revenues, with DOS and franchisees representing 19,5% of the total.

EBIT of € 35,9 million vs. € 26,1 million of 2006 reflecting 37,3% growth.

Net income of € 26,4 million vs. €12,2 million of 2006, reflecting 115,7% growth. The Group's Net income increased by 90% for the year.

Net Financial position Debt of € 63,5 million at December 31, 2007, reflecting an improved debt/equity ratio of 0,36 (vs. 0,41 at December 31, 2006) and an optimal debt/ebitda ratio of 1,3.

BUY-BACK PLAN:
The Shareholders of Antichi Pellettieri approved the extension of the existing buy-back plan that provides for 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 144bis, 1.B of Consob Regulation 11971/99 as modified by the Market Abuse Directive (“MAD”) in conformance with these markets' operating policies and procedures.

DIVIDENDS:
The Sharehoders of Antichi Pellettieri S.p.A. approved the distribution of an ordinary dividend of € 0,11 per share to be paid on May 29, 2008.

The Financial Reporting Officer, Daniele Bardini, 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.

Antichi Pellettieri S.p.A.

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