Chiara Ferragni has lost the requirements to be an independent director of Tod’s. The board of directors of the Marche group led by Diego Della Valle established this in the session of Wednesday 7 September. The press release on the results of the half-year states that the well-known influencer declared that he had lost the requisites, pursuant to the Consolidated Law on Finance, to be qualified as an independent director “by reason of an occasional provision of advertising services in favor of the company, after obtaining the opinion of the Opc Committee, and since it cannot be ruled out a priori that, in the future, other opportunities for collaboration may arise », reports a note from the company. The board of Tod’s, therefore, has ascertained that the requirement is no longer valid and reminds that Chiara Ferragni is not a member of any internal council committee.
For the rest, the Board of Directors shows that in the first half of the year Tod’s recorded a consolidated result net of current and deferred taxes for the period of € 0.8 million, which compares with a loss of € 20.7 million in the period. first half of 2021. Revenues rise to 467.5 million, up by 17.4% compared to the same period last year. The operating results of the Tod’s group improved compared to the first half of 2021, thanks to the growth in revenues and the more favorable sales mix, in terms of geographical area, distribution channel, product categories, and the lower incidence of promotional sales. In the first half of 2022, Tod’s gross operating margin amounted to 90.6 million, with a margin on revenues of 19.4%, up by more than three percentage points compared to 16.3% in the first half of 2021.
The result before financial charges (Ebit) was positive for 17.7 million, with a margin of 3.8% on revenues, and compares with a loss of 2.7 million in the first half of 2021. The impact of the currencies: at constant exchange rates, Ebitda and Ebit would show, respectively, a value of 85.3 million and 15.6 million. Lease liabilities, recognized in accordance with IFRS 16, amounted to 489 million at 30 June 2022, compared to 425 million in June 2021. Excluding these liabilities, net financial debt as at 30 June last was 85 million , which compares with a balance of 136 million in June 2021, “highlighting a strong cash generation in the last twelve months”, underlines Tod’s.