MBFG Leather Goods generates 46 % of consolidated revenues
15 Nov '07
4 min read
The strong performance (sell-out) of Fall/Winter collections, the positive results of the Spring/Summer 2008 sales campaign (sell-in) and the further expansion of international distribution network lead MBFG management to confirm dynamic growth for 2007 and 2008.
The Board of Directors of Mariella Burani Fashion Group S.p.A. approved the financial results for the third quarter ended September 30th, 2007 which reflects for the first nine months of 2007: • Consolidated revenues equal to € 546,4 million compared to € 539 million for the same period of 2006. The revenue growth, net of extraordinary items, is + 10,5%, from € 452 million to € 499,5 million. • Ebitda equal to € 86,1 million vs. € 107,3 million for the first nine months of 2006; net of extraordinary income and costs the Ebitda growth is 17%. • Ebit equal to € 67,7 million vs. € 89,9 million for the same period of 2006; net of extraordinary income and costs, Ebit growth is 21,4%. • Pretax income equal to € 47,3 million vs. € 73,1 million for the same period of 2006; net of extraordinary income and costs, pretax income growth is 21,3%. • Net financial position amounted to € 167,5 million, an improvement compared to the net financial position at December 31st 2006 of € 179,6 million reflecting an optimal debt/equity ratio of 0,59.
Financial Highlights 9M 2007: Consolidated revenues for the first nine months 2007 increased to € 546,4 million compared to € 539 million forthe same period of 2006. Net of extraordinary items revenue growth is 10,5%.
Net revenue growth was attributable to growth driven by the strong performance of: • the Leather goods division (Antichi Pellettieri) with Baldinini and Francesco Biasia collections; • the good performance of foreign markets, especially emerging luxury markets that reflected 32% growth during the first nine months, and represent 29,8% of total revenues; • the Italian market (+19,8%), driven by the collections of Mariella Burani and to the first time consolidation of the Fashion Jewellery division and of Dadorosa, net of the impact of the sale of the knitwear division and of the Multibrand Retail division.
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