The Brunello Cucinelli company closed the first quarter with a net profit of 7,2 million euros, up 36%. Net revenues amounted to 77,6 million (+17,1%), Ebitda rose by 27,6% to 12,9 million, according to a note. The data do not take into account the sale of the rental contract for the Milan Via Spiga store which generated a capital gain of around one million euro in the quarter.
“The healthy results achieved in this first quarter, both in terms of revenues and margins, confirmed the good momentum that the Brunello Cucinelli brand is experiencing at an international level”, commented the chairman and Brunello Cucinelli in the note. “So it is with healthy optimism that we look to the future, imagining a 2012 in line with our expectations of sustainable, solid and gentle growth”.
Net financial debt as at 31 March 2012 stood at 57,8 million compared to approximately 48 million as at 31 December 2011 and 56,4 million as at 31 March 2011.
Cucinelli debuted in Piazza Affari on 27 April. The stock, placed at 7,75 euros, never fell below 10 euros, reaching a maximum of 2 on 12,32 May. Today around 15,20 it dropped around 1% to 10,92 in a market that still shows weakness with the FTSE Mib down by more than 2%.
