Giorgio Armani, President and CEO of Giorgio Armani S.p.A. said: “These financial results for 2007 reflect a company that has been consistently growing for thirty years and that has built an innovative and winning business model under the Armani brand.
One can fully appreciate the vitality of the brand in the world today through this outstanding performance and most especially through the ongoing expansion in each of our five lifestyle collections and the remarkable growth seen in the more widely-diffused product categories, particularly fragrance, cosmetics and skincare, eyewear, watches and jewellery.
With the Milan Furniture Fair taking place next week it is also appropriate to highlight the significant advance made by our Armani/Casa business.”
Consolidated turnover for the full year 2007 amounts to 1,596.6 million Euros, equal to an increase of +8% compared to 2006 (+12% at constant exchange rates) compared to 1,474.4 million Euros in 2006.
EBITDA reached 354.9 million Euros, a +18% rise compared to 2006 and corresponding to 22% of consolidated turnover.
EBIT reached 288.5 million Euros, a +17% rise compared to 2006.
The Group's net cash was once again positive and has risen to 373 million Euros compared to 2006, evidence of the company's excellent financial soundness.