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.
STRATEGIC AND OPERATING HIGHLIGHTS - 1Q 2009 • Focus on licenses, with new license agreements signed for the production and international distribution of Etienne Aigner women's Ready-to-Wear collections and Freddy Ready-to-Wear children's collections; • The further integration and rationalization of recently acquired companies; • The continued development of the Group's own brands with continued investments in communication and the further extension of the retail network with 378 boutiques at March 31, 2009 (133 DOS and 245 Franchisees), including inaugurations during the quarter of: • 3 DOS, of which 2 Baldinini (1 in Venice, Italy and 1 in Mantova, Italy), and 1 Sebastian in Milan; • 6 Franchises, of which 2 Mariella Burani (1 in Lebanon and 1 in UAE), 2 Baldinini (1 in Russia; 1 in Ukraine) and 2 Coccinelle (1 in Italy and 1 in Poland).