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

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Urmil Arya

Sushila International, a well established textile organisation established ...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Mark Paterson
Technical Absorbents Ltd

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

Larry L Kinn
Suominen Corporation

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sanjukta Dutta
Sanjukta's Studio

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

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search