Brunello Cucinelli sparks in the first six months of 2012 and promises to improve further by the end of the year. The cashmere company listed on Piazza Affari closed on 27 April the first half with a normalized net profit, which does not include non-recurring costs incurred for the placement, up 35,1%, to 11,9 million euro. By including the effect of non-recurring charges, the net profit is equal to 7,6 million from 8,8 million.
“The healthy results achieved in this first half-year, both in terms of revenues and margins, have confirmed the good momentum that the brand is experiencing globally – comments the chairman and CEO Brunello Cucinelli – and let us foresee growing numbers for the entire year, both in terms of volumes and profitability. A growth that, since the beginning, we have imagined as sustainable and gentle".
Revenues rose by 16,1% to 135,2 million. Normalized EBITDA is equal to 22,7 million, with an increase of 23,5% substantially linked to the greater incidence of sales in the retail channel on total net revenues.
Net financial debt improved significantly compared to 58,4 million as at 30 June 2011, reaching 14,2 million, positively influenced by the liquidity generated by the IPO.
However, this morning in Piazza Affari the company's title leaves more than four points on the field.
