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Mariella Burani's profit triples to €22.3m in 2005

29 Mar '06

3 min read

The Board of Directors of Italian fashion group Mariella Burani Fashion Group has approved the financial results for the calendar year ended December 31st 2005.

The Group consolidated revenues increased to €483.1 million, up 12.5 percent compared to €429.6 million of 2004. Revenue growth was primarily driven by:

-- strong organic growth of 20.4 percent of the leather goods division (Antichi Pellettieri), driven by Braccialini handbag and accessory collections (+ 50.6 percent), Baldinini footwear collections (+ 35.7 percent), and Francesco Biasia handbag and accessory collections (+ 10.2 percent),
-- growth of the Mariella Burani and Rene Lezard apparel collections,
-- reinforced market presence in rapidly expanding geographic markets such as Eastern Europe, Russia, the Middle and Far East. Currently, Eastern Europe and Russia account for 15.2 percent of Group revenues.
-- the Group's expanded retail network (241 boutiques world-wide as of 31 December 2005) with revenues generated from Directly Operated Stores (DOS) accounting for 36.1 percent of 2005 consolidated revenues (+22.6 percent from 2004),
-- the consolidation of Bernie's, one of Switzerland's leading luxury goods retailers,

Ebitda reached €61.4 million for the year (Ebitda margin 12.7 percent) reflecting an increase of 35.9 percent from the €45.2 million generated in 2004(Ebitda margin 10.5 percent).

Ebit increased by 47 percent to €42.7 million for the year (Ebit margin of 8.8 percent) from €29 million of 2004 (ebit margin of 6.8 percent), and reflects the improvements in operating margins described above.

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