Aeffe: first quarter up 7.4%
Italian luxury group Aeffe, parent company of brands such as Alberta Ferretti, Moschino and Pollini, is seeing the positive trend in its results continue. After having closed 2018 with sales up 11.2% at constant exchange rates, the company also closed the first quarter of 2019 on a positive note, at €102.2 million (up 7.4% at current exchange rates).
Margins are also growing, with EBITDA at €26.6 million (up 9%), and profits, with a net profit of €11.8 million (up 4.3%). Revenues from the prêt-à-porter division amounted to €77.9 million, an increase of 8% at current exchange rates, while footwear and leather goods increased by 4% to € 33.3 million. However, sales for the Fall/ Winter 2019-20 season fell by 4% compared to the previous winter season.
Geographically, Italy, which accounts for 45.1% of total turnover, closed the quarter with growth of 1.8%, up to €46.1 million. Europe fell slightly behind (at 22.7% of the total), down by 1.4%, while America(5% of the total) grew by 2.9%. Good performances were seen in Asia and the Rest of the World region (27.2% of the total), up 29.3%, thanks mostly to high demand in Greater China, which grew by 20.1%.
With regard to distribution, the wholesale channel, which represents 74% of total turnover and is therefore the largest sales channel, grew by 6.4% at current exchange rates; retail also performed well, with an increase of 8.1% at current exchange rates to account for 22.8% of total group turnover. Revenues for royalties increased by 29.3% compared to the first quarter of 2018 and represented 3.2% of consolidated turnover.
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