Accessories division perks up IT Holding's 9-months revenues

14 Nov '05

3 min read

Operating income, amounting to Euro 32.1 million, improved significantly both in absolute terms (+52.1%) and as a percentage of net revenues (from 3.8% to 6.2%), following changes in accounting principles regarding amortization of intangible assets.

The nine months ended September 30, 2005 recorded a net loss of Euro 10.5 million, after tax of Euro 13.4 million, compared to a net profit of Euro 7.3 million in the corresponding period of the previous year which was however, positively influenced by a gain on disposal of the fragrance business of Euro 25.8 million.

Net debt as at September 30, 2005 amounted to Euro 374.5 million (of which Euro 138.3 million due to securitization and factoring), and is significantly lower than net debt at September 30, 2004 which amounted to Euro 427.5 million.

The Board of Directors called an extraordinary shareholders' meeting to be held on December 19, 2005 (second call on December 20, 2005) to propose that the term granted for the increase in share capital be extended to December 31, 2007 at the same conditions authorized on April 20, 2005.

Leading luxury goods player IT Holding S.p.A.'s shares are listed on the Italian Stock Exchange. IT Holding S.p.A. is one of the leading players in the luxury goods sector, and controls a group of companies that design, produce and distribute high-quality products (ready-to-wear and accessories, eyewear and perfumes) under owned brands - Ferré, Malo, Extè - as well as under license agreements - D&G, Versus, Versace Jeans Couture, Just Cavalli, C'N'C Costume National.

IT Holding S.p.A.

More IT Holding S.p.A News... More Fashion News - Italy...