Ebit equal to € 48,2 million vs. € 75,2 million for the first half 2006; net of extraordinary income and costs the Ebit growth is 32,6%.
Net financial position amounted to € 154,5 million, a improvement compared to the net financial position at december 31st 2006 and march 31st 2007.
Strategic and Operating Highlights
The first half of the year has proven to be extremely dynamic with the Group's continued focus on the further development of the Leather Goods and Fashion Jewellery divisions, both characterised by higher growth rates and margins.
More specifically:
• Mariella Burani Fashion Group, through its subsidiary Gioielli d'Italia, entered into a Joint Venture with DAMAS Jewellery, a leading international jewellery retailer, for the acquisition and development of complementary jewellery businesses.
DAMAS Jewellery will provide logistics, distribution and marketing support to the Group's brands thanks to its extensive experience and well-established presence in emerging markets world-wide.
• Antichi Pellettieri and Francesco Biasia signed a multi-year licensing agreement with Aquascutum, a renowned British brand synonymous with British luxury, to produce and distribute Aquascutum handbag, accessory, and footwear collections world-wide.
• Mariella Burani Fashion Group sold its Multibrand Retail division, which comprised 100% of the equity of Revedi Spa, Revedi Sa, Bernie's AG and Don Gil GmbH to Fashion Retail Group, a company controlled by Abacus Invest, a private equity fund operating in the apparel industry.
• MBFG inaugurated a total of 18 boutiques in the first half of 2007, including 5 DOS (Braccialini in Paris, Valente in Milan and Lugano, Renè Lezard in Germany and Bernies in Switzerland), 1 outlet Baldinini (San Marino) and 12 franchising stores.
Furthermore, on July, 2007 Braccialini, subsidiary of Antichi Pellettieri, acquired Dadorosa Srl, world-wide licensee of the renowned Italian brand Gherardini. The company manages 3 monobrand boutiques in Milan, Rome and Florence.
Outlook 2007
The strong performance realised in the first half of the year, combined with the continued expansion of our retail network and the positive results of the Autumn/Winter 2007-2008 sales campaign, lead MBFG management to confirm dynamic growth with expected revenues around € 700 million for 2007.
Mariella Burani Fashion Group
marketing@alchempro.com
