Ebitda reached € 86,1 million vs. € 107,3 million for the first nine months 2006; net of extraordinary income and costs the Ebitda growth is +17%.
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 46 % of consolidated revenues;
• export sales which generated 64,7% of consolidated revenues with emerging luxury markets representing 29,8%;
• direct distribution channels that generated 66,2% of consolidated revenues.
Ebit equal to € 67,7 million vs. € 89,9 million for the same period 2006; net of extraordinary income and costs the 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, 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.
Strategic and Operating Highlights of the 3Q 2007:
• Acquisition of 100% of Dadorosa, world-wide licensor of the renowned Gheradini brand, by Antichi Pellettieri Spa.
• Signed new license agreements with Amazon Life for the production and distribution of handbags and accessories, with Phard and Bogner for the production of children's wear.
• Further expansion of the international distribution network, which reached 230 mono-brand boutiques with 10 stores opened during third quarter: 5 DOS (Rosato flagship store in via Montenapoleone, Milan; a Baldinini outlet and three Gherardini boutiques directly operated by Dadorosa in Milan, Florence and Rome) and 5 franchisees (4 Baldinini boutiques in Russia, China and Dubai and Braccialini in Moscow). In total 28 boutiques have been inaugurated in the 9 months of 2007.
Mariella Burani Fashion Group S.p.A.
marketing@alchempro.com
