MILAN — Aeffe SpA posted another quarter of growth, upping net profits to 800,000 euros, or $1.1 million, in the first three months of 2011 versus a net loss of 1.7 million euros, or $2.3 million, for the same period last year.
For the quarter ended March 31, Aeffe reported a 17.4 percent increase in consolidated revenues to 71.9 million euros, or $97.8 million, compared with 61.3 million euros, or $84.6 million, a year earlier.
Dollar figures were converted at average exchange rates for the periods to which they refer.
Massimo Ferretti, executive chairman of the group, attributed the good results to the positive performance of the current and upcoming collections. “…The encouraging data of the collection orders for the next fall-winter season, which show a 12 percent growth, make us very confident on the remaining part of the year,” commented Ferretti.
Related Articles
You May Also Like
The group’s earnings before interest, taxes, depreciation and amortization (EBITDA) soared 409 percent to 7.8 million euros, or $10.6 million, compared with 1.5 million euros, or $2 million for the first three months of 2010.
Moschino continued to be Aeffe’s top performer and accounted for 55 percent of sales in the first quarter, compared with 49 percent in the same period in 2010, while Pollini, of which Aeffe became sole shareholder in February, fell to 11 percent from 16 percent. The rest of the breakdown, which includes Alberta Ferretti and Jean Paul Gaultier, remained relatively unchanged.
Geographically, numbers were up across all regions except for a 1 percent slip in Japan. Sales in Italy, which make up 42.9 percent of total revenues, gained 18 percent, while every other area experienced single-digit growth.
As of the end of March, net financial debt reached 102.3 million euros, or $139.1 million, climbing from 95.4 million euros, or $131.6 million a year earlier.