The first half of 2012 closes for Salvatore Ferragamo with increasing profits and revenues. Earnings amount to 55,9 million euros (+22,5% on an annual basis), while the total turnover reaches 565,1 million (+22,9%). In the second quarter alone, revenues grew by 22,5% at current exchange rates (+16,7% at constant exchange rates) to 305,5 million. Ebitda increases by 25% to 104,7 million. In the second quarter alone, the figure rose by 18% to 66,6 million.
The Italian maison confirms this the prospects for “significant growth” for the entire year. In particular, an acceleration in the retail sector and a slowdown in the wholesale sector are expected for the second half of the year.
In terms of profitability, "we expect a further improvement, not enormous but nonetheless significant in terms of Ebitda and gross margin", specified the managing director Michele Norsa in the conference call on the results.
As for the period after the end of the semester, “July was still a very good month – continued the manager -, while in August we had a surprisingly positive performance in Europe and the United States, with Europe still driven by tourists, while in Asia we had different performances in different markets”.
At the opening today, Ferragamo's title gains just under one point in Piazza Affari.
