Italy : Salvatore Ferragamo FY'13 revenues hike 9%

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Salvatore Ferragamo FY'13 revenues hike 9%

12
Mar '14

The Board of Directors of Salvatore Ferragamo S.p.A., parent company of the Salvatore Ferragamo Group, one of the global leaders in the luxury sector, meeting under the chairmanship of Ferruccio Ferragamo, examined and approved the non-audited draft Company Statutory Financial Statements and the Consolidated Financial Statements for the Year ended 31 December 2013, both prepared according to IAS/IFRS international accounting principles (“non-audited”).

Consolidated Revenue figures for FY 2013

As of 31 December 2013, the Salvatore Ferragamo Group has posted Total Revenues of 1,258 million Euros, a 9% increase at current exchange rates (+7% in 4Q 2013) over the 1,153 million Euros recorded in FY 2012. Revenue growth at constant exchange rates has been 11% (+9% in 4Q 2013).

Hereafter the variations in Revenues are calculated at constant exchange rates, unless differently indicated.

Revenues by geographical area

All geographical areas, with the sole exception of Japan, registered in FY 2013 a double-digit growth in turnover, both at current and constant exchange rates.

The Asia Pacific area is confirmed as the Group's top market in terms of Revenues, representing about 37% of total in FY 2013, up by 10% (+5% in 4Q 2013). A major contribution was given by the retail channel in China, which recorded a growth in total Revenues of 20% compared to FY 2012.

Europe posted an increase in Revenues of 13%, compared to the same period in 2012 (+18% in 4Q 2013), confirming the Ferragamo brand ability in attracting the international tourist flows.

Double-digit Revenue growth was recorded also in North America, with an increase of over 12% in FY 2013 (+11% in 4Q 2013), confirming the solid growth of the market.

The Japanese market showed an increase in Revenues of 1% in FY 2013 (-2% in 4Q 2013), registering a 13% decrease at current exchange rates due to the meaningful deterioration of the Japanese currency.

Revenues in Central and South America also showed solid results with an increase of 15% (+13% in 4Q 2013).

Revenues by distribution channel

As of 31 December 2013, the Salvatore Ferragamo Group's Retail network can count on 360 Directly Operated Stores (DOS), while the Wholesale and Travel Retail channel includes 264 Third Party Operated Stores (TPOS), as well as presence in major Department Stores and high-end multi-brand Specialty Stores.

In FY 2013 the Retail distribution channel posted Consolidated Revenues up by 9% (+5% in 4Q 2013) compared to the same period in 2012. The increase at constant exchange rates and perimeter (like-for-like) was ca. 5% and 1%, respectively in FY 2013 and in 4Q.

The Wholesale and Travel Retail channel delivered an excellent performance in FY 2013 growing 14% (+19% in 4Q 2013).

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