The Board of Directors of Salvatore Ferragamo S.p.A., parent company of the Salvatore Ferragamo Group, one of the global leaders in the luxury sector, meeting under the chairmanship of Ferruccio Ferragamo, examined and approved the Consolidated Interim Report as of 30 September 2013, drafted according to IAS/ IFRS international accounting principles.
Highlights:
-Revenues: 915 million Euros (+10% vs. 833 million Euros at 30 September 2012)
-EBITDA: 192 million Euros (+22% vs. 157 million Euros at 30 September 2012)
- EBIT: 162 million Euros (+23% vs. 132 million Euros at 30 September 2012)
- Net Profit: 120 million Euros (+41% vs. 85 million Euros at 30 September 2012), including 7 million Euros of Minority Interest
- Group Net Profit: 112 million Euros (+61%vs. 70 million Euros at 30 September 2012)
Consolidated Revenue figures
As of 30 September 2013, the Group has posted Total Revenue of 915 million Euros, with a 10% increase at current exchange rates, over the 833 million Euros recorded in 9M 2012. Revenues growth at constant exchange rates has been 11%.
In 3Q 2013 the Total Revenue growth at current exchange rates has been 8.5% (+10%at constant exchange rates) vs. 3Q 2012, growing from 267 million Euros to 290 million Euros.
Here after the variations in Revenues are calculated at constant exchange rates, unless differently indicated.
Revenues by geographical area
The Asia Pacific area is confirmed as the Group's top market in terms of Revenues, further increasing by 12% in 9M 2013 and by 13% in 3Q. A major contribution came, once more, from the retail channel in China that recorded a Revenue growth of over 20% in the first nine months of the year.
Europe, thanks to the remarkable brand awareness of Ferragamo and its ability to attract the interest of the global tourist flows, posted an increase in revenues of over 11% compared to 9M 2012. In 3Q 2013 the growth was 6%, mainly due to the still difficult economic situation and to the hard comparison base (+15% in 3Q2012).
North America recorded a revenue increase of 13% in the first nine months of 2013, confirming also in3Q 2013 the long trend of double-digit growth (+11%).
The Japanese market increased2%in 9M 2013, growth trend confirmed also in3Q.
Revenues in the Central and South America marked an increase of 16% in 9M 2013, with an acceleration in 3Q 2013 (+35%) thanks to the positive contribution of both the retail and the wholesale channel.
