Safilo Group 2016 Financial Results
Friday, March 17 2017 | 00 h 00 min | Financial News, News, Press Release
The Board of Directors of Safilo Group S.p.A. approved the financial statement for the year ended 31 December 2016. Safilo’s one year total net sales reached €1252.9 million, slightly down (-1.2% at constant exchange rates) from 2015, mainly as a result of the decline of Gucci as a Safilo brand.
Other Key Highlights
- Sales performance of Going Forward Brands, +3.6% at constant exchange rates (+5.2% excl. Retail)
- Adjusted earnings before interest, tax, depreciation and amortization at €88.8 million, down 13.3% vs 2015, at 7.1% of net sales
- Adjusted net profit at €15.4 million, more than double 2015. Due to non-recurring items, Safilo Group reported a net loss of €142.1 million
- Group Net Debt at €48.4 million, compared to €89.9 million at the end of 2015, with the adjusted financial leverage at 0.5x
Luisa Delgado, Safilo CEO, commented, “We continued to build our License Brand portfolio, launching Givenchy, the collaboration with Swatch, and the ‘havaianas’ brand first in Brazil. We renewed early Jimmy Choo, Max Mara and Dior, while Celine will exit end 2017. We signed new licenses in the fashion luxury segment with Moschino, and Love Moschino, and in the upper contemporary segment with the American brand ‘Rag & Bone’.”
Click HERE for the full press release.
