Geox cheered by 34% rise in consolidated sales in 2005
21 Apr '06
3 min read
Sales generated by DOS which has been opened for at least 12 months (comparable store sales) increased by 11 percent.
On December 31st 2005 Geox shops network included 372 stores, of which 192 in Italy and 180 abroad. In 2005 the group opened 94 new stores, of which 26 in Italy and 68 abroad. Out of the 372 'Geox shops', 74 were DOS and 298 franchising. In 2005 the group opened 15 new DOS and 79 new franchised stores.
Consolidated EBITDA reached €121.0 million (+39 percent compared to FY 2004) with a 26.6 percent margin (25.6 percent in 2004) mainly driven by Geox strong growth in Europe, which resulted in a significant operating leverage effect. In Italy EBITDA reached €78.1 million (+19 percent) with a 37.4 percent margin (36.8 percent in 2004).
In Europe, EBITDA increased significantly reaching €38.9 million (+81 percent compared to FY 2004) with a 22.0 percent margin (18.2 percent in 2004). Consolidated EBIT reached €102.9 million (+42 percent compared to FY 2004) with a 22.6 percent margin (21.4 percent in 2004).
Consolidated net income reached €75.3 million (+43 percent) with a 16.5 percent margin (15.5 percent in 2004).
The shareholders' meeting has approved a cash dividend distribution of €0.085 per share. The dividend will be paid on April 27, 2006.
Mario Moretti Polegato, Geox Chairman and founder, said, “With these results, Geox has achieved and exceeded all targets set up during the IPO. These numbers are in line with our expectations and confirm Geox superior growth path and its ability to grow well above the average of the shoe industry.”
marketing@alchempro.com
