- The tax charge was €17.3 million, including deferred tax of €3.0 million; - Businesses sold or discontinued (disposal of Etam plc on 7 April 2005) generated a loss of €19.3 million.
Consolidated net income was €21.8 million vs. a loss of €49.2 million in 2004 and net income (Group share) was €13.9 million vs. a loss of €55.0 million in 2004.
Debt Group cash flow was €103.2 million vs. €81.6 million in 2004.
Net investments totalled €47.2 million (including €19.3 million related to the disposal of subsidiaries) vs. €40.7 million in 2004.
Net debt declined by €48.0 million to €118.5 million at year-end 2005 vs. €166.5 million at year-end 2004. Net debt to shareholders' equity stood at 39 percent vs. 58 percent at year-end 2004.
Dividend General Partners in charge of Management will propose to shareholders at the next annual general meeting and extraordinary meeting, scheduled for 22 June 2006, the payment of a dividend of €0.30 per share for the year ended 31 December 2005.
Outlook As planned, having withdrawn from its UK business, the Group is now concentrating its efforts on improving its performance in continental Europe and on expansion in China and international franchises.
Leading French fashion group Etam founded in 1916. The company is now an international group in the market for women's fashions (ready-to-wear, lingerie and accesories). Its business is the retail sale of fashion products specially tailored for its exclusively female customers.
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