Benetton preliminary results shows 9.1% growth in 2007

22 Feb '08

3 min read

The Benetton Group Board meeting viewed the preliminary results for the 2007 financial year, pending availability of final numbers which will be examined and approved by the Board of Directors on 19 March 2008.

2007 preliminary results showed a 9.1% growth in consolidated revenues to 2,085 million euro compared with 1,911 million in 2006.

Also positive were EBIT, up by over 35% to 243 million euro, and net income, which was 145 million euro for the year (+16.3%). Ordinary EBITDA reached 337 million euro (+27.6% compared with 2006), 16.2% of revenues against 13.8% in the previous year.

Net capital expenditure in 2007 was 225 million euro and the net financial position was 475 million euro.

Board meeting also analyzed the management forecast for the current year. Sales growth estimates were set between 6% and 8% (on a like for like basis). Net income and EBITDA are forecast to grow over 7% in 2008.

Capex of around 250 million euro is also planned for the current year, in operations and in strategic and priority markets for the acceleration of future growth.

Net financial indebtness is forecast around 650 million euro at the end of 2008.

The Board also resolved to request the Management Board of the Frankfurt Stock Exchange to terminate the listing of the company's ordinary shares on the German stock market. The Company's shares will continue to be listed in Italy and traded in the Computerized Share Market of the Borsa Italiana S.p.A.

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