Revenues up 20% and profits up 85% for Ferragamo in the first half of this year.
Salvatore Ferragamo, one of the main operators in the luxury sector, whose origins date back to 1927, yesterday approved the results for the first half of 2022, which showed sustained growth compared to the first six months of last year, exceeding the expectations of insiders at work. And this, despite the not good results in China, a major buyer of the maison, but still grappling with the pandemic and lockdown.
The accounts of the group chaired by Leonardo Ferragamo indicate revenues equal to 630 million (+20,3% compared to the first half of 2021), to evaluate of 62 million (+85,2%), while the liquid assets, which reached 309 million, compared to 205 as at 30 June 2021.
The Ebit (gross operating result) rose to 95 million with an improvement of 44,7% compared to the previous 66 million, while the Ebtida rises to 180 million euros (+24,4% compared to 144 million euros in the first half of 2021. The investments they amounted to 18 million, compared to 13 million in the same period of the previous year, mainly in the renewal of distribution and in the digital channel.
Third quarter retail sales are encouraging
“We are pleased with the continued growth in revenues and profitability achieved in the second quarter, despite the continuing impact of the pandemic in China; all other geographical areas showed positive performances” said Marco Gobbetti, CEO and general manager of Salvatore Ferragamo. “We have made progress on our strategic priorities and in the second half of the year, as planned, we will also accelerate investments on the geographical areas in support of our growth plans. The data on retail sales for the third quarter of the year are also encouraging and our collections are well received. China showed signs of improvement in the summer, but unfortunately we have seen new lockdown announcements in recent days: we remain aware of the volatile and complex global macroeconomic context".
"The new collection di Maximilian Davis it will be presented at the Milan fashion show at the end of the month and the “capsule” will be delivered in November” added Gobbetti, the manager chosen to lead the relaunch of the Florentine fashion house on January XNUMX this year.
“Our partnership with the e-commerce platform Farfetchrecently announced offers us the ability to leverage technical capabilities and reach a target audience to fuel our digital growth ambition,” the company said in a statement.
Sales: North America +41,6%. Central and South America +44,2%. Europe and Africa +32,4%
In detail, the Asia Pacific area recorded a 1,5% drop in sales, while the Japanese market reported a 2022% increase in sales in the first half of 28.
On the markets of Europe and Africa there was a growth of 32,4%, but above all the area of North America (which alone accounts for almost a third of sales) recorded a progress of 41,6%, while the area of Central and South America saw a plus 44,2% compared to the same period of 2021.
