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Stefanel's Interfashion unit sales up 11.2% in H1

Aug '05
The Stefanel Group announced the first half 2005 results.

Positive 1st half 2005 results approved by the company.

The growth trend continues and all of the consolidated economic and financial indicators have improved, thanks above all to the positive performance of the apparel business.

- These financial statements, together with the comparative figures for 2004, have been prepared according to IFRS.
- The equity investment in Nuance has been consolidated at equity.
- Net sales of 126.7 million (+11.7%)
- EBITDA of 14.1 million (+64.0%)
- EBIT of 8.7 million (+171.9%)
- Bottom line positive to the tune of 1.8 million (versus a loss of 9.0 mn in 1st half 2004)
- Net financial exposure 15.6 million euro better than at June 30, 2004.

In a market that is still flat, indeed possibly even negative because of the ongoing weakness of consumer spending, the Group continued during the period to reorganize and develop the distribution network for the Stefanel brand in Italy and, above all, abroad, starting up activities in the Japanese, Hungarian, Polish and Greek markets.

The improved performance by Stefanel stores, especially those run directly, confirms that the right decision were made in past months regarding the structure of collections, in terms of both the categories and the input timing of the various items. These organizational changes have made available to the sales network a much wider and more dynamic range of goods, better able to enhance the know-how and production capacity that the Group has in the field of knitwear products.

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