Home / Knowledge / News / Fashion / Benetton consolidated revenues increase to 996 mn euro
Benetton consolidated revenues increase to 996 mn euro
29
Aug '08
The Benetton Group Board of Directors, meeting and chaired by Luciano Benetton, examined and approved the consolidated results for the first half of 2008.

Group net revenues for the first half of 2008 grew to 996 million euro (+2.9%), consistent with full year revenue forecasts previously communicated; this increase, at constant exchange rates and on a like for like basis, was equivalent to 5.1%. The apparel segment grew to 948 million euro, 5.8% at constant exchange rates.

Growth in the half year was determined by:
• the positive mix contribution, following enrichment of the offer with higher value product categories, and development actions in countries with high growth potential;
• the increase in the value of the euro in relation to the principal foreign currencies, and in particular the effect of movements in the Korean won, the US dollar and the GB pound.

Gross operating profit was 46.4% of revenues compared with 43.7% in the first half of 2007, with an increase of 39 million euro, positively influenced by the combined effects of mix, as well as the ever greater efficiency of supply chain management and sourcing activities, in a context of constant attention to product quality.

The contribution margin increased by 35 million euro, reaching 390 million, with a percentage of revenues which increased to 39.1% from 36.7%, containing a slight increase in variable costs, associated in particular with the rise in oil and transport costs.

The most significant elements which in the half year impacted on general and administrative expenses (+26 million euro) were:
• consolidation of operations, in particular in the US market;
• costs relating to supply chain improvement projects, the simplification of the structure of the collections and analysis for development of the Group's competitive structure in strategic markets;
• higher depreciation and amortization associated with the implementation of significant IT investments, in particular the development of SAP, made by the Group in previous years.
• Operating profit grew by 9 million euro to 116 million, with a percentage of revenues of 11.7% compared with 11.1% in the first half of 2007.

Ordinary EBITDA increased by 12 million euro to 156 million, equivalent to 15.7% of sales compared with 14.9% in the comparative half year.

As a result of the increase in interest rates, the average financial indebtedness and the strengthening of the euro against the principal currencies, financial expenses and currency hedging losses increased by 7 million.

Net income, of 72 million euro, grew by 2.5%.

Capital employed increased by 54 million euro compared with December 31, 2007; this was driven mainly by the increase in operating capital expenditure and by the restoration of the values of assets held for sale, net of the reduction in working capital compared with last year end. The working capital, which is cyclical in its movements during the year, increased by only 5 million euro compared with June 30, 2007.


Must ReadView All

Indian textile & apparel exports fall 13% in Jan 2018

Textiles | On 17th Feb 2018

Indian textile & apparel exports fall 13% in Jan 2018

A decline of 13 per cent year-on-year has been observed in the...

Brazilian cotton prices move up in first fortnight

Textiles | On 17th Feb 2018

Brazilian cotton prices move up in first fortnight

Cotton prices rose in Brazil in the first fortnight of February, as...

Courtesy: OrganoClick

Textiles | On 17th Feb 2018

OrganoClick introduces OrganoTex for water repellency

OrganoClick has introduced OrganoTex, a textile impregnation product...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.3%
No
12.9%
Skip
16.8%

Total Votes: 101

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.4%
No
29.7%
Skip
6.9%

Total Votes: 101

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.1%
No
8.9%
Skip
3.0%

Total Votes: 101

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.2%
No
7.9%
Skip
8.9%

Total Votes: 101


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search