Home / Knowledge / News / Fashion / Antichi Pellettieri sees positive results in 2008
Antichi Pellettieri sees positive results in 2008
01
Apr '09
The Board of Directors of Antichi Pellettieri S.p.A. approved the Consolidated Financial Statements for the full year ended December 31, 2008 that reflect:

• REVENUES of € 397.7 million (+32.5%) vs. € 300,2 million in 2007
• EBITDA of € 76.0 million (+59%) vs. € 47.8 million in 2007.
• EBIT of € 52.8 million (+47.3%) vs. € 35.9 million in 2007
• PRETAX INCOME of €40.9 (+47.2%) vs. € 27.8 million in 2007
• NET INCOME of € 38.4 million (+45.5%) vs. € 26.4 million of 2007
• NET FINANCIAL POSTITION Debt of € 49.5 million, reflecting a debt/equity ratio of 0.18 at December 31, 2008

Proposed merger between MBFG and AP
The Boards of Directors of Antichi Pellettieri SpA and Mariella Burani SpA continue to review the proposed merger between Antichi Pellettieri SpA and Mariella Burani SpA, as announced to the market via a joint press release on March 14, 2009.

For purposes of ascertaining the transparency and fairness of the proposed transaction, the Board of AP has nominated, in accordance with its corporate governanace rules, a financial advisor to assist the company in the evaluation of the transaction and its financial implications, including the issuance of a fairness opinion on the fairness, from a financial standpoint, of the exchange ratio in the proposed merger.

The Board of Directors of MBFG has also nominated its financial advisor in the transaction. Both financial advisors are currently finalising their evaluations of the transaction and the proposed exchange ratio and are expected to issue their respective fairness opinions to the respective Boards in the near future.

Financial Highlights
Consolidated revenues of €397.7 million (+32.5%) compared to €300.2 million in 2007, reflect the capital gain realised on the sale of 49% of APBags to 3i, the first time consolidation of Mandarina Duck, the full year consolidation of Dadorosa, as well as 5% organic revenue growth realized during the year.

The 5% organic revenue growth was driven primarily by:
• The strong growth of the Group's own brands Baldinini (+32%) and Braccialini (+22%);
• The expansion of the Group's licensed brand portfolio and organic growth realized by existing licensed brands including Vivienne Westwood, Gherardini, Aquascutum, and Missoni;
• 20% organic growth from the Group's Directly Operated Stores, and 17% organic growth in sales to the Group's franchises; both complemented by the 72 boutique inaugurations during the year;
• Organic growth in emerging luxury markets (+17.6%), mostly driven by the performance of Russian and Eastern European markets.

Consolidated Ebitda reached €76.0 million (+59%) compared to €47.8 million generated last year. Ebitda margin improved from 15.9% in 2007 to 19.1% in 2008. 2008 Ebitda incorporates the net capital gain realised on the sale of 49% of APBags to 3i, the first time consolidation of Mandarina Duck, the full year consolidation of Dadorosa, and the benefits of the Group's strong sales mix:


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

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Harsh Shah

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

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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