Textile brands - key contributor for Marzotto Q3 growth
02 Dec '06
3 min read
Marzotto S.p.A. Board of Directors approved the interim report on operations and the consolidated financial statements for the period ending 30 September 2006, made public in accordance with law.
Consolidated figures to 30 September 2006 (millions of €) • Revenues: €220.0 million (up 5.5% from pro-forma 2005: €280.5 million) • Operating income: €11.0 million (up 155% from pro-forma 2005: €4.3 million) • Net non-recurring financial income: €5.4 million (down 56% from pro-forma 2005: €12.4 million) • Consolidated net income: €8.1 million (down 36% from pro-forma 2005: €12.6 million, due to lower non-recurring financial income) • Free Cash Flow: €48.0 million (pro-forma 2005: €7.7 million ) • Net debt: €67.8 million (pro-forma 2005: €130.8 million) Consolidated figures third quarter 2006 (millions of €) • Revenues: €65.2 million (up 5.8% from €61.6 million in 2005) • Operating profit: €2.3 million (€0.6 million loss in 2005) • Net income before taxes: €1.1 million (€2 million in 2005) • Consolidated net result: -€0.4 million (€0.3 million in 2005)
Consolidated net turnover in the first nine months of 2006 increased 5.5% to €220 million from €208.5 million 2005 pro-forma, with all the textile brands contributing to growth: Marzotto, Guabello, Marlane, Tessuti di Sondrio.
The interim consolidated financial statements were prepared in accordance with IAS/IFRS.
Operating income in the first nine months amounted to €11.0 million (4.9% of turnover), up €6.7 million from €4.3 million 2005 pro-forma (2.1% of turnover).