Home / Knowledge / News / Fashion / Optimal performance from Antichi Pellettieri footwear & handbags
Optimal performance from Antichi Pellettieri footwear & handbags
29
Aug '08
The Board of Directors of Antichi Pellettieri Spa approved the consolidated financial statements for the six months ended June 30, 2008 which reflect:

• Revenues of € 169 million (+ 26.2 %) vs. € 133.9 million in 1H 2007.
• EBITDA of € 23.3 million (+ 20.0%) vs. € 19.5 million in 1H 2007.
• EBIT of € 19.2 million (+ 24.7%) vs. € 15.4 million in 1H 2007.
• Pre-tax income of € 14.6 million (+23.0%) vs. € 11.9 million in 1H 2007.

Financial Highlights – 1h 2008:
Consolidated revenues of € 169 million (+26.2%) compared to € 133.9 million in first half 2007, reflect the consolidation of Dadorosa as well as strong organic revenue growth (+19%), driven primarily by:

• The optimal performance of the footwear and handbags division, driven by the excellent results of Baldinini (+43%) and the continued growth of the Coccinelle and Braccialini handbags and accessories collections;

• Dynamic organic growth in emerging luxury markets (+24%), driven by the optimal performance of Russian and Eastern European markets (+34%), as well as the Middle East (+30%), and the continued growth realised in Italy (+18%), again driven by the Baldinini, Braccialini, and Coccinelle brands.

Ebitda reached € 23.3 million, growing +20.0% compared to the same period in 2007. Ebitda growth is attributable to both, the consolidation of Dadorosa and the strong sales mix that reflects:

• Own brands which generate 85 % of consolidated revenues;
• Direct distribution channels that represent 59 % of consolidated revenues with 22% generated from DOS and Franchisees;
• Export markets that generate 65.0 % of consolidated revenues, with 45% generated from emerging luxury markets.

Ebit increased to € 19.2 million (+24.7%) for the six month period from € 15.4 million in 1H 2007. Pre-tax income of € 14.6 million (+23.0%) from € 11.9 million in the same period of 2007.

Net Financial Position at June 30, 2008 reflected Net Debt of € 107.7 million vs. € 63.5 million at December 31, 2007. The debt/equity ratio remains optimal at 0.63 notwithstanding the fact that the € 118 million of cash generated on August 7, 2008 from the sale of 49% of APBags to 3i has not been recognised.

Strategic and Operating Highlights – 1h 2008:
The 1st Half 2008 has proven extremely dynamic thanks to:
• The acquisition by 3i of 49% of APBags S.p.A., a newly established sub-holding that houses the Group's handbags and accessories companies. The transaction is expected to accelerate the development of APBags in the Chinese and Indian markets (August);

• The acquisition of 100% of Finduck, a company that owns the renowned Mandarina Duck brand, was closed on June 24, 2008. As noted in the auditors' report, the six days of operations of Finduck have not been consolidated in the financials of AP for the six month period ended June 30, 2008 as it was not possible to report only six days of operations according to International Accounting Standards.


Must ReadView All

Courtesy: Amazon

Apparel/Garments | On 23rd Sep 2018

Consumers in Turkey get access to Amazon

Amazon has launched in Turkey giving customers in the country...

Value in omni-channel retail with Flipkart buying: Walmart

Apparel/Garments | On 23rd Sep 2018

Value in omni-channel retail with Flipkart buying: Walmart

With the acquisition of Flipkart, Walmart sees great value in...

E-com to result in common SE Asian consumer market: BCG

Textiles | On 23rd Sep 2018

E-com to result in common SE Asian consumer market: BCG

The rapid spread of e-commerce and digital technologies is binding...

Interviews View All

Nitin Soni, Dolphin Jingwei Machines

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Pratik Bachkaniwala, Palod Himson Machines

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Angelina Francesca Cheang, MY ANJE

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Carolin Russ,

Carolin Russ

Weko, Weitmann &amp; Konrad GmbH &amp; Co KG, based in south Germany, is...

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search