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Valentino H1 led by women's segment & accessories sales

01 Aug '06

2 min read

The Board of Directors of Valentino Fashion Group S.p.A. examined the preliminary consolidated results at 30 June 2006.

- Net Revenues: €926 million (+14 percent vs 2005 pro-forma: €814 million)
- Operating income: €94 million (up +19 percent vs 2005 pro-forma: €79 million)
- Net income: €61 million (+31 percent vs 2005 pro-forma: €46 million)

Consolidated net turnover amounted to €926 million, up 14 percent (+13 percent at constant exchange rates) compared to the first half 2005 as the growth trend recorded in the first quarter of 2006 continued.

The Group increased market share in Europe (+13 percent), and accelerated growth in the major non-European markets (USA 20 percent), continuing its success with its brand extension strategy, led by the women's segment (+35 percent) and accessories (+43 percent).

Turnover at directly operated stores increased 32 percent (9 percent on constant floor space), accounting for 15 percent of the total sales.

Margin on ordinary operations +23 percent, driving the increase in operating income to €94 million, up 19 percent from €79 million in the same period in 2005.

Income before taxes in the first half 2006 amounted to €89 million, a 25 percent increase from €71 million in the same period in 2005.

Consolidated net income amounted to €61 million, a 31 percent increase from €46 million in the year-before period.

Group net income, net of minority interest, amountedto €35 million, a 47 percent increase from €24 million in 1H05.

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