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Marzotto's apparel business' sales rise 11% for Q1, 2005

23 May '05

4 min read

Italian fashion clothing company Marzotto announced the results for Q1 2005.

• Sales: €572 million (+8% vs €531 million in 2004)
• Operating profit: €89 million (+16% vs €77 million in 2004)
• Net consolidated profit: €56 million (+27% vs €44 million in 2004)
• Free cash-flow: €29 million (2004: €11 million)

The Board of Directors of Marzotto S.p.A., held today, adopted the Report for the first quarter of 2005.

Group's Performance
Net consolidated sales for the first three months of 2005 amounted to €572 million, against €531 million in the first quarter of 2004. On a currency adjusted basis sales increased by 9%.

In detail:
Apparel Business' sales were €518 million (€467 million as at March 31st, 2004), increased by 11%.

The sales rise was mainly due to Hugo Boss, which increased by 14% increase (15% on a currency adjusted basis) and Valentino, with a 16% increase (17% on a currency adjusted basis);
- Textiles Business' sales were €60 million (€71 million as at March 31st, 2004), decreased by 16%, mainly due to the drop in fabrics and woollen yarns, which suffered from ae slowdown in demand during the first months of the year. On the other side the good trend shown by the cotton fabrics was confirmed (+14%).

Sales
The Group's operating profit, which amounted to €89 million, increased by €12 million on the comparable period last year (+16%) accounting for 15.5% of sales (March 31st, 2004: 14.4%).

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