Abroad, Geox strategy focuses both on the growth of the multibrand channel, which rose from €88.2 million to €130 million (+ 47 percent), and on the development of the 'Geox Shop' network. Franchising and DOS sales rose from €8.4 million to €15.4 million (+84 percent).
With regards to the main operating and net income results:
-- EBITDA reached €85.4 million from €69.0 million in Q1 2005 (+24 percent) with a 34.8 percent margin.
-- EBIT rose to €81.3 million from €65.0 million in Q1 2005 (+25 percent) with a 33.2 percent margin.
-- Net Income achieved €52.6 million from €45.5 million in Q1 2005 (+16 percent), with a 21.4 percent margin.
Geox operating and net results as percentage of sales are slightly below those of Q1 2005. As already commented, this difference is partially explained by an extraordinary operating gain recorded on Q1 2005 which is only due to the first-time adoption of the IAS 39.
Mario Moretti Polegato, Geox Chairman and founder, has thus commented: “These results are in line with our expectations, we are also confident that this trend in sales will continue in this second quarter 2006. Moreover, we are optimistic for the second part of the year given that the 2006 Fall/Winter orders' backlog shows a growth rate of around 30 percent.”
Geox actively creates, produces, promotes and distributes footwear worldwide with unique patents aiming toguarantee breathability and impermeability. It operates in the segment of classic, casual and sport footwear for men, women, and children, priced in the medium to medium-high price range.
marketing@alchempro.com
