Piquadro has approved the half-yearly report as at 30 September 2022, which shows a consolidated turnover of 80.2 million, up by 26.0% on an annual basis.
With reference to the Piquadro brand, revenues amounted to 35.3 million (+24.8%) with an increase in all sales channels: wholesale (+21.7%), DOS (+33.8%) and e-commerce (+9.5%). As regards The Bridge brand, sales increased by 34.3% to 14.9 million, while the Maison Lancel closed the 6 months with revenues up by 23.5% to 30.0 million.
From a geographical point of view, the Italian market recorded a turnover of 37.2 million (+23.4%), equal to 46.3% of consolidated sales. Revenues in the European area grew by 30.9% to 40.9 million, reaching 51.0% of consolidated sales, thanks above all to growth in Spain and Germany. In the “Rest of the world” area, the Group recorded a turnover of 2.1 million (-8.2%), equal to 2.7% of consolidated sales.
Consolidated Ebitda is positive for 10.2 million, up by approximately 1.7 million compared to the figure as at 30 September 2021. Adjusted Ebitda, net of the effects deriving from the application of the IFRS16 accounting standard, is equal to 3 .9 million (+127%). Adjusted Ebit stood at €1.8 million, compared to a negative €0.2 million as at 30 September 2021, while the Group’s net result was a negative €0.1 million, an improvement of approximately €1.4 million.
On the balance sheet side, net financial debt as at 30 September 2022 was 41.6 million, compared to 45.5 million as at 30 September 2021.
“We expect to be able to close the 2022-2023 financial year with a Group turnover of between 170 and 175 million and an adjusted Ebitda close to 15 million”, says Marco Palmieri, Chairman and Chief Executive Officer of the Piquadro Group.