The Board of Directors of Clothing group IT Holding SpA has approved the interim consolidated financial statements for the quarter ended March 31st 2006.
-- Consolidated net revenues amounted to €211.5 million (+8.6%; +18.1% y-o-y excluding D&G);
-- Operating result amounted to €21.1 million, increasing by 59.8% y-o-y;
-- Income before tax amounted to €11.9 million, almost three times the result for the corresponding quarter of the last year, which amounted to €4.0 million;
-- Net income amounted to €5 million;
-- Ferre: Retail revenues increased by 31.3%;
-- Accessories revenues increased by 57.7%;
-- The consolidated order book to-date, for the F/W 2006/07 sales campaign recorded a total increase of approximately 18% and 26% excluding D&G compared to the F/W 2005/06 season.
During the first quarter 2006, IT Holding SpA realized consolidated net revenues amounting to €211.5 million, showing an increase of 8.6 percent, compared to the corresponding period of the previous year (€194.7 million), and realizing EBITDA of €42.6 million (+18.5 percent), operating result of €21.1 million (+59.8 percent), income before tax of €11.9 million (4.0 million in the first quarter 2005) and net income of €5.0 million, compared to a net loss of €2.4 million in the corresponding quarter of the previous year.
These are in summary the results, reviewed by the Board of Directors chaired by Tonino Perna, of the first quarter consolidated financial statements of IT Holding SpA, a company listed on the Italian stock exchange and one of the major Italian players in the luxury goods market.
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