QUOTATIONS
Salvatore Ferragamo
Salvatore Ferragamo’s Board of Directors approved the Consolidated Half-Year Financial Report at 30 June 2021. The press release shows that revenues increased by + 44.2% compared to the first half of 2020; the operating result (EBIT) was equal to 66 million euros, the net profit equal to 33 million euros, while the net financial position was positive with 205 million euros.
The United States, China and Korea led the strong recovery in profitability. In addition, “Group retail sales in July and August” were close to “pre-Covid levels”.
Particularly:
Revenues of 524 million euros (+ 44.2% compared to 363 million in the first half of 2020, + 46.2% at constant exchange rates)
Gross Operating Result (EBITDA): 144 million euros (compared to 32 million euros in the first half of 2020)
Operating profit (EBIT): 66 million euros (compared to -72 million euros in the first half of 2020)
Net profit for the period: 33 million euros (compared to -86 million euros in the first half of 2020)
Net Financial Position: net liquidity of 205 million euros (compared to 58 million euros of net liquidity at 30 June 2020).
At the same meeting, the Board of Directors conferred all the powers of ordinary administration on the Executive Deputy Chairman Michele Norsa and launched the buy-back program