Positive half-year report for Brunello Cucinelli which yesterday – 28 August – announced its accounts for the first six months of 2018, closed with strong growth in revenues and profits thanks above all to the sales boom achieved in China.
In detail, net revenues amounted to 269,5 million, up 9% at current exchange rates (+11,9% at constant exchange rates), compared to 247,2 million recorded as at 30 June 2017. A performance driven above all by China , where sales jumped 34,8% to 24,8 million. However, the incidence of the European market should not be underestimated, which grew by 12,1% to 84,3 million (31% of total turnover). Among other things, sales increased in all distribution channels: +7,1% for retail, +12,4% for wholesale mono-brand and +10,7% for wholesale multi-brand.
In operating terms, Ebitda grew by 11,1% to 46,2 million, Ebit increased by 11% to 34,4 million. Net financial expenses decreased, from 3,0 million as at 30 June 2017 to 1,2 million as at 30 June 2018.
Brunello Cucinelli closed the period to 30 June 2018 with a net profit of 25,78 million, up by 29,9% compared to the same period last year (normalized net profit rose by 19,7% to 23,8 .XNUMX million).
“The good performance of autumn-winter sales – comments the president and managing director Brunello Cucinelli – leads us to confirm our positivity for the second part of the year”. "Let's imagine - he concludes - a 2018 with double-digit growth in both Ebitda (gross operating margin) and profits".
In the first six months, investments amounted to 25,2 million euros (18,1 million in commercial investments and 7,1 million in production, logistics and it/digital), within the investment plan for the 2018-2020 period, while net financial indebtedness fell from 59,4 to 44 million euro.
At Piazza Affari, the stock dropped 5,56% to 37,60 euros.
