Benetton EBITDA up by 4.1% to 354 million euro

19 Mar '09

4 min read

Net financial indebtedness was 689 million euro, up 214 million euro compared with December 31, 2007.

The Board then approved the draft annual financial statements of the Parent Company and submitted a proposal to the next Shareholders' Meeting, convened at Ponzano for April 20, 2009, (first call and April 24, second call) for payment of a dividend totalling 48 million euro, equivalent to 0.28 euro per share (0.40 euro per share in 2008).
Payment of the dividend is planned as from April 30, 2009, with coupon detachment date of April 27, 2009.

CEO Gerolamo Caccia Dominioni, then presented the management forecasts for the current year to the Board. In view of measures already initiated to contain and compensate for the negative impact of the crisis, the Group has set itself as primary objectives for 2009, on the one hand, strengthening of market share both in established countries and those identified as strategic for development, and on the other hand, the maintaining of its own profitability.

To this end, an extensive reorganisation plan has been initiated which will enable continued investment, accelerate development, limit the risks of future inflationary pressures, significantly renew the organisational structure and generate cash flow.

The structural savings produce by this strategy will be partially available from the second half of the year, and fully in 2010, for an annual amount of over 50 million euro, which will be used in part for development and to balance restructuring costs.

Benetton Group S.p.A.

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