Handbag & Footwear Div perk up at Antichi Pellettieri
27 Feb '07
3 min read
• Increased revenues from direct distribution channels (+40%) including boutiques (DOS and Franchisees) that realised 24% organic growth during the period, • The strong performance of the Baldinini, Francesco Biasia, and Braccialini brands.
Total revenue growth of +68% reflects the first time consolidation of Coccinelle, acquired on April 13, 2006.
Ebitda increased by 71.9% during 2006 to € 34.9 million, primarily driven by increased operating leverage, economies of scale with further reductions in raw material and third party production costs, and improved sales mix with: • The handbag and footwear division representing 92.6 % of total revenues, • Export markets generating 60% of total revenues, including emerging luxury markets representing 37.7% of total sales, and • Direct distribution channels generating 59.5% of total revenues, including Dos and franchisees generating 17.1% of total sales.
Ebit increased by 69.6% to € 26.1 million from the €15.4 million generated in 2005. Pretax Income increased by 97.8% to €18.8 million in 2006 from €9.5 million in 2005. Net income increased by 148.5% to €12.2 million for the year (reflecting a net income margin of 4,7%) from €4.9 million of 2005.
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