The Board of Directors of Mariella Burani Fashion Group Spa approves the financial results for the first half ended June 30th, 2007 which reflects for the first six months of 2007: • Consolidated revenues equal to € 371,9 million compared to € 361,6 million for first half of 2006. The revenues growth, net of extraordinary items, is + 18,3%. • Ebitda equal to € 60,3 million vs. € 87,8 million for the first half 2006; net of extraordinary income and costs the Ebitda growth is 20,1%. • Ebit equal to € 48,2 million vs. € 75,2 million for the first half of 2006; net of extraordinary income and costs, Ebitda growth is 32,6%. • Pretax income equal to € 34,8 million vs. € 64,1 million for the first half of 2006 strongly influenced by Antichi Pellettieri IPO. • Net financial position amounted to € 154,5 million, an improvement compared to the net financial position at december 31st 2006 and march 31st 2007.
Closing “Multibrand Retail” On September 27th, 2007 MBFG announces the closing of the transaction regarding the sale of the multibrand retail division to the Fashion Retail Group, a company controlled by the private equity fund Abacus Invest.
Financial Highlights 1H 2007 Consolidated revenues for the first half 2007 increased to € 371,9 million compared to € 361,6 million for the same period of 2006.
Net revenue growth was attributable to growth driven by the strong performance of: • the Leather goods division (Antichi Pellettieri) that realised revenue growth of 23,2% during the first half 2007; • emerging luxury markets that generate the 29% of Group revenues, and reflected 41,4% growth during the first half, driven by the growth in the Eastern Europe (+38,2%) and Russia (+53,8%); • the Italian market (+27,2%), driven by the collections of Biasia, Braccialini e Baldinini; and to the first time consolidation of the Fashion Jewellery division, net of the impact of the sale of the knitwear division and of the Multibrand Retail division.
Ebitda reached € 60,3 million vs. € 87,8 million for the first half 2006; net of extraordinary income and costs the Ebitda growth is +20,1%.
Improved Ebitda margins are primarily attributable to operating leverage and economies of scale in the Leather goods division, further rationalisation in the Apparel division, and an improved sales mix for the Group.
The improved sales mix is evidenced by the increased weight of revenues from : • leather Goods which generated 40,8% of consolidated revenues; • export sales which generated 64,9% of consolidated revenues with emerging luxury markets representing 29%; • direct distribution channels that generated 71,9% of consolidated revenues, with DOS and franchisees representing 34,1%.
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