Tod’s ended 2014 with revenues in line with the previous year, at 965,5 million euro, and a Net income of 96,8 million, down 37,2 million year on year. The balance sheet was approved today by the shareholders' meeting, which also gave the go-ahead for the distribution of a dividend of 2 euro per share, down from the 2,70 euros of the previous year. Finally, the shareholders authorized the repurchase of treasury shares up to a maximum of 3.060.940 shares, for a period of 18 months.
Mid morning Tod's stock on the Stock Exchange loses 0,93%, a 85,60 euro.
2014 was for Tod's "a less positive year than the previous ones", due to "the temporary slowdown of some important markets and the tourist flows that they feed around the world - writes the number one of the company, XNUMX Diego Della Valle, in the letter to the shareholders -, but we still expect that there will be good room for improvement in the coming years”.
Furthermore, "following our usual medium-long term industrial perspective - continues Della Valle - also in the last financial year our group continued to invest in human resources and production capacity, choosing to sacrifice in the short term a few percentage points of profitability which we will recover o we will also be able to increase as soon as the markets normalize and turnover starts to grow again”.
As for the board of directors of Tod's, the shareholders' meeting approved the increase in membership from 12 to 15, with the entry of three women based on the list presented by Di.Vi Finanziaria Diego Della Valle & C, owner of 53,66% of the share capital .
The new Board is composed of Diego Della Valle, Andrea Della Valle, Luigi Abete, Maurizio Boscarato, Luca Cordero di Montezemolo, Emanuele Della Valle, Emilio Macellari, Pierfrancesco Saviotti, Stefano Sincini, Vincenzo Manes, Michele Scannavini, Luigi Cambri, Cinzia Oglio, Romina Guglielmetti, Sveva Dalmasso. Fabrizio Della Valle leaves, while the director Vito Varvaro had already resigned on 31 October 2014.
