The last session of the week for Tod's stock on the Stock Exchange starts badly, which at the beginning collapses by 7,34%, to 90,20 euros, marking the worst fall of the Ftse Mib. The plunge is explained by a wave of realizations by investors in the aftermath of the accounts. In the last month, Tod's shares have gained 7,93%, while the half-yearly average rise is 12,54%. The stock has now entered a volatility auction.
Yesterday, with the markets closed, the company led by Diego Della Valle announced that it closed 2014 with declining net income to 97,1 million (from 133,7 million in 2013) e revenues substantially stable at 965,5 million (-0,2%). L'Ebitda instead dropped to 193,5 million (from 236 million), with a margin on sales of 20%, while theEBIT it decreased to 148,2 million (from 193,1 million), in this case with a 15,3% margin on sales.
The Board of Directors will propose a dividend of 2 euro per share, which corresponds to a payout of 63%, a slight increase compared to the previous year.
“As already highlighted and commented on in previous quarters – he commented Della Valle –, in 2014 our group recorded a temporary drop in profitability due to our strategic decision to continue investing in production capacity, communication, research, and above all in the distribution network, despite a particularly challenging market context characterized by weak consumption in relevant markets for luxury goods”.
In the exercise 2015, Della Valle assures us, "the group will return to growth in revenues and profits, albeit in a context that remains uncertain and challenging". The CFO of Tod's, Emilio Macellari, believes that the consensus of analysts for this year is achievable, which forecasts revenue growth of 5,5% and an Ebitda margin of 20,3%.
