Q1 2015 net profit rises to 12.5 million euros Geox
The Italian footwear maker on Thursday announced positive results for its first quarter 2015, with its consolidated net sales increasing by 4.7% (2.5% at constant exchange rates) to €281.0 million.
Footwear sales, which accounted for about 90% of consolidated sales, amounting to €252.8 million, increased 9.0% compared to first quarter of 2014. Meanwhile, apparel sales, which represented 10% of consolidated sales, equal to €28.2 million, compared to €36.5 million of the first quarter 2014.
Sales in Italy, the Group’s main market, which accounted for 36% of sales, in line with the first quarter 2014, amounted to €100.5 million showing a 3.2% increase compared with the same period of the previous year.
Sales in Europe, which accounted for 43% of sales increased by 3.2% to €119.7 million, compared with €116.0 million in the first quarter of 2014.
North American sales amounted to €14.2 million, showing an increase of 15.8% (+1.9% at constant exchange rates). Sales in Other Countries increased by 8.8% compared to the first quarter of 2014 (+1.1% at constant exchange rates).
Sales of the directly-owned channel, which represent 30% of Group revenues, grew 10.9% to €85.6 million compared to the first quarter of 2014.The improvement is mainly driven by new openings and by comparable store sales growth recorded on DOS channel (+4.8%).
Sales of the franchising channel, which account for 20% of Group revenues, amount to €56.3 million, with a decrease of 3.9%.
Multibrand stores representing 50% of Group revenues (49% in the first quarter of 2014) amount to €139.1 million, with an increase of 4.8%.
The group’s EBITDA for the quarter was €30.7 million, 10.9% of sales, compared to €27.8 million (10.4% on sales) of the first quarter of 2014.
€1 = $1.14/£0.72
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