The Benetton Board of Directors today approved the consolidated results for the first quarter of 2006.
Group net revenues for the first quarter of 2006 were 416 million euro, compared with 383 million in the corresponding period of 2005 (+8.6 percent).
“Apparel” sector sales amounted to 389 million euro, against 355 million euro in the first quarter of 2005, with a change of 9.5 percent.
In the “Apparel” sector, to be noted are the contribution to revenues by the Turkish partnership(established in May 2005), of 12 million euro, and the contribution of sales from the directly operated stores.
Revenue performance by independent partners was mainly influenced by the effects of the commercial development policy and the dynamics of 2006 spring-summer collection deliveries, designed to enhance service to stores.
Markets which continue to show significant growth are the Mediterranean basin, South Korea, China and India.
Sales were affected by positive exchange rates for around 5 million euro, representing 1.3 percent of total revenues.
Gross operating income was 43.0 percent of revenues compared with 44.2 percent in the same period of 2005, with a contribution margin of 35.7 percent compared with 37.0 percent in the first quarter of 2005.
EBIT was 35 million euro, 8.4 percent of revenues, against 37 million euro in the first quarter of 2005 (9.8 percent).
Net income was 24 million euro, representing5.8 percent of revenues, compared with 27 million euro in the first quarter of 2005 (7 percent). Shareholders' equity, at March 31, 2006, amounted to 1,300 million euro (1,275 million at December 31, 2005).
marketing@alchempro.com
