News Flash

Valentino approves report on H1 2006

13 Sep '06

3 min read

The board of directors approved the report on the first half of 2006:

-Consolidated sales: +13.8 percent - net income: +31.1 percent.
-Consolidated sales: €925.7 million (+13.8 percent vs. 2005 pro-forma: €813.5 million).
-EBIT: €93.5 million (+18.8 percent vs. 2005 pro-forma: €78.7 million).
-Net income: €60.7 million (+31.1 percent vs. 2005 pro-forma: €46.3 million).
-Net financial debt: €407.3 million (vs. €425.4 million pro-forma at 30 June 2005).

At today's meeting the Board of Directors of Valentino Fashion Group S.p.A. approved the Report on the first half of 2006 and adopted some resolutions in order to update the Company's Corporate Governance and reform the organisational model in compliance with Legislative Decree 231/01.

REPORT ON THE FIRST HALF OF 2006
The Group
Net consolidated sales were €925.7 million in the first half of 2006, increased by 13.8 percent (currency adjusted: 13.0 percent) on €813.5 million of 2005 comparable period.

The rise was the result of a positive trend. All brands showed double-digit growth rates.

On a geographical basis Group's sales were up on all markets, particularly in Europe (+13.3 percent) and in the United States (+20.4 percent).

Sales at directly operated shops (DOS) were equal to 15 percent of total sales and showed a 32 percent rise (+9 percent on constant floor space and exchange rates).

EBIT increased to €93.5 million, with a rise of 18.8percent on the comparable period of 2005 (€78.7 million).

More Valentino Fashion Group News... More Fashion News - Italy...