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Mariella Burani's leather goods posts 35% revenue growth in Q1

08 May '06

4 min read

Organic Ebitda was €8.6 million for the three month period, (or €12.9 million pro-forma) reflecting growth of 142.5 percent (or +262.5 percent pro-forma) from Q1 2005 Ebitda of €3.5 million, benefiting principally from increased economies of scale, further reductions in raw material and third party production costs, and improved sales mix with: Revenues generated from handbag and footwear products generating 92.7 percent of total sales, and revenues generated from export markets increasing by 43.4 percent.

The organic Ebitda margin increased to 15.2 percent of consolidated revenues (+16.6 percent pro-forma) from the 8.5 percent margin registered in Q1 2005. The first quarter of 2006 has been extremely active for Antichi Pellettieri witnessing;

The acquisition by AP of a 51 percent controlling interest in Coccinelle, an important addition for the company - generating over 27 percent of Q1 2006 revenues - and an important value driver. The brand is extremely well known in Italy and Western Europe and firmly places AP as Europe's leading accessible luxury handbag and accessories company with its main brands, Coccinelle, Braccialini, and Francesco Biasia generating on a pro-forma basis over €100 million of revenues in Q1 2006.

The acquisition by Itochu of a 3.3 percent equity interest in AP. Itochu Corporation is one of Japan's most successful trading companies and one of the world's largest corporations with a network of more than 670 companies in 80 countries. It has built expertise, reputation and long-term relationships with strategic retail partners in the area and is well placed to establish and build leading luxury and fashion brands in Japan and the Far East.

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