The net profit before nonrecurring expenses is equal to €22.9 million, an improvement of 21.1 percent compared to the €18.9 million registered in 2004. Net profit after nonrecurring expenses is equal to €3.1 million.
The net debt was reduced significantly (-40.7 percent from €807.2 million to €479.0 million) and this will finally allow the Group to operate in the next few years with a balanced capital structure.
Vittorio Tabacchi, Chairman of Safilo Group, said, “2005 was a historic year for our Group. The results achieved and the listing on the Stock Exchange have led to the accomplishment of an organic growth project begun 4 years ago and aimed at strengthening Safilo's shareholding and financial structure.”
“The achievement of these targets allows us to face future challenges with the commitment and the strength that derive from our competitive advantages: product development, selective distribution and customer care,” he said.
Safilo Group is leader in premium eyewear and in a leadership position in the sector of prescription, sunglasses, fashion and sports eyewear.
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