Home / Knowledge / News / Fashion / Leather Goods segment perks up at Mariella Burani
Leather Goods segment perks up at Mariella Burani
01
May '09
The Shareholders of Mariella Burani Fashion Group S.p.A. approved the financial statements for the full year ended December 31, 2008, that reflect:

REVENUES of € 700.1 million (+3.9%) vs. € 674.0 million in 2007;

EBITDA of € 87.8 million (+5.3%) vs. € 83.4 million in 2007;

EBIT – Negative EBIT of €26.9 million, vs. EBIT of € 56.2 million in 2007
EBIT prior to non recurring impairment charges and write-downs of financial assets of € 99.6 million, increased by 9.8% from € 66.1 million in 2007 to € 72.6 million;

Pre-tax Loss of € 63.8 million vs. Pre-tax Income of € 27.9 in 2007
Pre-tax Income prior to non recurring impairment charges and write-downs of financial assets, declined by 5.3% from € 37.8 million in 2007 to € 35.8 million;

Net Loss of € 65.2 million vs. Net Income of € 16.8 million in 2007;

Net Financial Position Reclassified - Debt of € 256.6 million.
Net Financial Position IFRS/IAS - Debt of € 401.5 million excludes € 10.4 million of pledged liquidity and € 103.9 million of financial assets and includes € 30.5 of treasury shares held at December 31, 2008.

Walter Burani, Chairman of the Board, stated “Notwithstanding the difficult economic environment, the Group realised 9.8% growth of Operating Earnings (EBIT prior to non recurring impairment charges and write-downs of financial assets) in 2008, attesting to the strength of our business model and operations.

The capital structure of our Group remains solid and, with the assistance Mediobanca, an independent financial advisor, we have initiated a debt restructuring project to ascertain maximum operating flexibility, improve the efficiency of treasury management, and to optimise the mix of short and long term debt.

We expect to continue to generate value for our shareholders, both operationally and strategically, by focusing on our core businesses, investing in the quality and reach of our brands, aggressively expanding the Group's license business, further extending the retail network, and continuously developing strategic partnerships in emerging markets.

In addition, we are implementing complementary value creating initiatives that include further rationalisation with the opportune divestment of non-core, duplicate, and/or non profitable businesses, and further reinforcement of our capital structure.”

2008 Financial Highlights
Consolidated revenues of € 700.1 million (+3.9%) vs. € 674.0 million in 2007 benefit from the capital gains realized on the sale of 49% of APBags to 3i, the sale of AP shares in the acquisition of Mandarina Duck, the sale of commercial real estate and brands, as well as the first time consolidation of Mandarina Duck from July 1, 2008, and the full year consolidation of Dadorosa.

Notwithstanding the difficult economic environment, organic revenues increased by 5.8%, during the year, primarily reflecting the strong contributions from the Leather Goods and


Must ReadView All

Courtesy: Ministry of Trade and Industry, Singapore

Textiles | On 22nd Feb 2018

Final version of CPTPP pact released; to be signed in March

The final version of the Comprehensive and Progressive Agreement for...

Amazon India crosses 3 lakh seller base in less than 5 yrs

Apparel/Garments | On 22nd Feb 2018

Amazon India crosses 3 lakh seller base in less than 5 yrs

Amazon recently claimed to have crossed the three-lakh seller base in ...

Indian e-retail market may see 250% growth in 3 yrs: Crisil

Apparel/Garments | On 22nd Feb 2018

Indian e-retail market may see 250% growth in 3 yrs: Crisil

India’s e-retail market may rise by 250 per cent in the next three...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Urs Stalder
Sanitized AG

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sanjukta Dutta
Sanjukta's Studio

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

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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