The brand extension is continuing successfully, with the womenswear and accessory collections posting growth rates higher than the Group' average (both +34 percent ).
Directly operated shops were 275 at 30 September 2006 against 200 at 30 September 2005. DOS sales, equal to 14 percent of total sales, rose by 31 percent (+10 percent on constant floor space and exchange rates).
Group's EBIT increased by 17.2 percent to €227.4 million (14.4 percent on sales), thanks to the improvement achieved by all brands.
Net income
Net income attributable to the Parent Company's shareholders was €91.9 million, up by 21.1 percent on €75.9 million in the first nine months of 2005.
Group net income
Investment in the period increased sharply to €82.4 million (€62.9 million at 30 September 2005) and was mainly allocated to developing direct retail and implementing the IT platform for the integrated management of the supply chain.
Investment
Group's net financial debt was €392.9 million at 30 September 2006, increased form €358.7 million at 30 September 2005, mainly as result of the rise in net working capital.
The increase on €333.5 million of 31 December 2005 was due to the business seasonality and to the dividend pay-out of the first year half.
Foreseeable business operations performance
Mr Antonio Favrin, Chairman of Valentino Fashion Group S.p.A. commented: “The good results achieved, lead us to confirm full year's sales growth in line with the first nine months and even higher improvement for both operating and pre-tax income.
The development of our business, particularly of womenswear and accessory collections, both for wholesale and retail, will allow us to reach new positive growth targets in 2007.”
Valentino Fashion Group S.p.A.
marketing@alchempro.com
