Revenues of 21 million euros up 55% and an Ebitda of 5 million: this is how 2021 ends Culti Milano, a group specialized in the production and distribution of fragrances and cosmetics, listed on the Euronext Growth Milan (formerly Aim) segment. The year still characterized by the Covid-19 pandemic did not hinder the commercial activities and strategies of the company which launched a new joint venture to strengthen its presence on the Chinese market.
In fact, the past year marked the start of the commercial activities of the Culti Milano Asia joint venture both on the Scent Company and Culti Milano fronts, with a significant commercial growth of the company which last year presented the first olfactory branding project developed for Automobili Lamborghini, which will have further product developments in the second half of 2022.
Bakel, the forerunner of clean cosmetics, has strengthened the pharmacy channel, increasingly authoritative on the beauty segment and increasingly qualified in telling the brand’s path for transparent, effective and sustainable cosmetics which, by 2022, will see all product references present themselves on the market with the refill system, for a more conscious consumption attentive to the protection of the delicate environmental balance.
«The year just ended saw strong commercial growth that characterized all the companies of the group – comments Pierpaolo Manes, CEO of Culti Milano -. Culti Milano continued with significant growth on the main markets, in particular those of the Far East. Bakel’s work was significant, with profitable results in the pharmacy channel with a year-on-year increase in turnover of 30%, despite the fact that the first six months of 2021 were still “infected” by generalized closures in Italy. Scent Company, despite a particularly complicated global market due to the continuous stop and go of openings, caused by the pandemic emergency, has maintained an active commercial result, the result of activities aimed at studying and identifying olfactory signatures, capable of strengthening the value of the brands and partner companies “.
And he adds: «All the companies of the group have performed positively from an income point of view, leading to a significant improvement in Ebitda both in absolute value and as a percentage. We live these moments with satisfaction, combined with the enthusiasm of the new projects of 2022, both on the commercial front and on the front dedicated to product innovation, in which we invest resources and time “.