The Bolognese leather goods group Piquardo (Piquadro, Lancel, The Bridge brands) confirmed its consolidated turnover at 109,4 million euros in the first nine months, up by 33,3% compared to the same period of 2020 and a turnover of the third quarter alone to 45,7 million (+36,4%), states a press release from the company. The goal is to reach a turnover of 150 million at the end of the year with an Ebitda of 8-10 million.
Piquadro Group, the net financial position is growing
La net financial position, as at 31 December 2021, was negative by 36,9 million euros, albeit an improvement of approximately 6 million euros compared to December 2020. “The impact of the application of the new accounting standard IFRS 16 amounted to approximately 50,9 48,2 million euros with a negative sign (approximately 31 million as at 2020 December XNUMX)”, specifies the press release.
La adjusted net financial position at the end of 2021 of the group is in positive territory and equal to approximately 13,9 million euros, also in this case increased compared to the 5 million euros of the same financial position recorded at 31 December 2020.
"The Group's results for the first nine months are excellent both in terms of turnover and the financial position, significantly improved compared to last year", he stated in a press release. Marco Palmieri, Chairman and Chief Executive Officer of the Piquadro Group. “With a view to a general recovery, we have planned to gradually increase investments in all three brands of the e we confirm the guidance of a turnover close to 150 million euro with an EBITDA (pursuant to IFRS 16) between 8 and 10 million euro”.
The consolidated turnover of the Group, relating to the 2020/2021 financial year ended 31 March 2021, is equal to 113,5 million euros.
Since October 2007 Piquadro SpA has been listed on the Italian Stock Exchange.
Piquadro's revenues clearly recovered in the third quarter
The only brand Piquadro he saw revenues in the third quarter (October - December 2021) equal to approximately 16,8 million, an increase of 51,7% compared to the same period relating to the 2020/2021 financial year (October-December 2020).
For the brand The Bridge, the revenues recorded in the third quarter amounted to approximately 7,5 million, up by 28,8% compared to the same period relating to the 2020/2021 financial year.
The sales revenues made by Lancel House, in the third quarter they amounted to 21,4 million, up by 28,6%.
The origins of the Piquadro Group date back to 1987 when Marco Palmieri, now President, founded his company in the province of Bologna, where the headquarters are still located.
La distribution network it extends over 50 countries worldwide and has 174 points of sale which include 82 Piquadro boutiques, 12 The Bridge boutiques and 80 Lancel boutiques.
Leap in turnover in Italy, the non-Europeans are suffering the most
From a geographical point of view, the Piquadro Group recorded a turnover of 2021 million euros in the third quarter (October-December 18,6). in the Italian market an increase of 60,0% compared to the same period of the 2020/2021 financial year.
In European market in the third quarter (October-December 2021) the Group recorded a turnover of 25,5 million Euros, an increase of 27,4% compared to the same period of the 2020/2021 financial year.
In the rest of the world in the third quarter (October-December 2021), the Piquadro group recorded a turnover of 1,6 million Euros with a decrease of approximately 300 thousand Euros compared to the same period of the 2020/2021 financial year.
