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

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Hardik Sanghvi

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

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Larry L Kinn
Suominen Corporation

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

Kerem Durdag
Biovation II LLC

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

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

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