Home / Knowledge / News / Fashion / Revenues from Fashion Jewellery decline at MBFG
Revenues from Fashion Jewellery decline at MBFG
18
May '09
The Board of Directors of Mariella Burani Fashion Group Spa approved the consolidated financial results for the first quarter of 2009 which reflect:

REVENUES of € 171.2 million from €181.2 million in 1Q 2008, reflecting a decline of 5.5%;

EBITDA of € 10.0 million vs. € 29.1 million in 1Q 2008, in decline primarily as a function of margin declines in the Fashion Jewellery and Apparel divisions;

EBIT of € 5 million vs. € 24.8 million in 1Q 2008;

PRETAX LOSS of € 1.7 million vs. Pretax Income of € 16.7 million in 1Q 2008.

NET FINANCIAL POSITION RECLASSIFIED – Debt of € 272.1 million on March 31, 2009, vs € 256.6 million on December 31, 2008.

NET FINANCIAL POSITION IAS / IFRS – Debt of € 404.6 million on March 31, 2009, vs €401.5 million on December 31, 2008.

FINANCIAL HIGHLIGHTS – 1Q 2009
Consolidated revenues of €171.2 million compared to €181.2 million for the same period in 2008.

Revenues from the Leather Goods division (Antichi Pellettieri), that generated 64.3% of Group revenues, increased by 5,4% during the period, primarily attributable to the consolidation of Mandarina Duck and to the positive performance of the division's own brands, Braccialini and Biasia, and the licensed brands, Vivienne Westwood and Gherardini. In addition, revenues benefited from growth realised by the retail network (+13.7%) and in Italian (+4%) Eastern European (+7.2%) markets.

Notwithstanding the positive contribution from Antichi Pellettieri, the Group's consolidated revenues declined by 5.5%, reflecting the negative economic climate and its resultant impact on orders. While the Children's division continued to grow, the revenues of the Apparel division declined by 17.4%, primarily reflecting the deconsolidation of Compagnia della Seta during the period and lower revenues from Western European markets. Revenues from Fashion Jewellery declined by 42.7% during the period, mostly due to significant declines registered in Italian and Middle Eastern markets.

EBITDA of € 10 million with an EBITDA margin of 5.8%, reflecting the impact of revenue declines as well as the costs associated with the restructuring and re-launch of the Mariella Burani and Rene Lezard brands as well as the integration and re-launch of Mandarina Duck.

The Group's sales mix reflects:
• Leather Goods and Apparel divisions, which together generated over 90% of revenues;
• Export sales which generated 60.5% of revenues with emerging markets representing 35.3%, and US and Japan, together limited to 3% of revenues.
• Own brands which generated 79.7% of revenues;
• Direct distribution channels which generated 44.8% of revenues with the Group's retail network reflecting 18.6% of revenues.

EBIT of € 5 million, reflecting an EBIT margin of 2.9%.

Pretax Loss of €1.7 million, as compared to Pretax Income of €16.7 million from the same period last year.


Must ReadView All

Courtesy: Sympatex Technologies

Textiles | On 23rd Feb 2018

Sympatex, Ricosta jointly move towards sustainability

Sympatex Technologies is moving towards sustainability with its...

Courtesy: Business wire

Information Technology | On 23rd Feb 2018

CLO Virtual Fashion launches CLO 4.0 & new website

CLO Virtual Fashion, a leading developer of cutting-edge 3D garment...

HKL Magu welcomes Amitabh Kant, CEO, NITI Aayog; Courtesy: AEPC

Apparel/Garments | On 23rd Feb 2018

AEPC completes 40 years of operation

The Apparel Export Promotion Council (AEPC) has successfully...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Abhishek Pachauri

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marcel Alberts
Eurofibers

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Anisha Chaudhari
Threads & Shirts

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

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