In the first half of 2017, Aeffe Group has recorded an 8.8% revenue rise at current exchange rates, up to €150 million (+8.6% at constant exchange rates), and a huge, 214% leap in net income over the same period last year, reaching €4.6 million.
Revenue for the ready-to-wear division was €116.3 million, equivalent to an 8.8% rise compared to the first six months of 2016, while revenue for the footwear and leather goods division grew 12.5% to €50.4 million.
Geographically, Italy accounted for the largest share of Aeffe’s consolidated revenue, 48%, and had a very positive first half of the year, growing 19% compared to the same period of 2016, to €72.1 million. Europe minus Italy and Russia accounted for 21.3% of revenue and increased by 5.9%, up to €31.9 million. Russia and the USA have instead lost ground. The former accounted for 3% of consolidated revenue and lost 5.9%, while the USA, with a 6.5% revenue share, lost 12.5% over last year, notably due to the slow-down in department store sales. The rest of the world carved a 21.1% share of Aeffe’s revenue and grew 1.9% over the first half of last year, reaching €31.7 million.
In terms of distribution channels, the wholesale division grew 6.1%, and accounted for 70.2% of consolidated revenue. The retail division, including directly owned and franchised stores, instead grew by 17.9% at current exchange rates, for a 26.7% share of the group’s business. Finally, royalty revenue grew 0.6% over the first half of 2016, and accounted for 3.1% of consolidated revenue.
Consolidated EBITDA was €15.5 million, equivalent to a 10.3% margin, up from the €12.2 million recorded in the same period last year.
Pre-tax profits were €7.4 million, and grew 55% over the first half of last year.
The group’s financial statement as of 30th June 2017 also showed net assets for €139.7 million and a debt of €67 million, an improvement over the €76.3 million recorded at the same time last year.
Aeffe Group owns Alberta Ferretti, Philosophy by Lorenzo Serafini, Moschino, Pollini and produces under licensing the fashion and accessories collection of several other fashion brands
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