Gianni Versace, one of the most famous Made in Italy brands that has been looking to Piazza Affari for some time, achieved growing consolidated revenues in 2016 but not to such an extent as to cover the rise in costs, so much so that margins have literally halved with the EBITDA margin going from 12,5% in 2015 to 6,6%. The company therefore closed the 2016 financial year with a consolidated loss of 7,4 million euros, as emerged from the financial statements consulted by Radiocor, compared to the profit of 15,3 million in 2015.
In detail, the maison 80% controlled by the Versace family and which also sees the Blackstone fund as shareholders (which entered in 2014 with a 20% stake) recorded a turnover of 668,7 million euros, up 3,7%. However, the increase in revenues slowed down, given that in 2015 they recorded +17,5% (+8,6% at constant exchange rates) over the previous year. Operating costs increased by a good 60,7 million, reaching almost 630 million. An item – reads the balance sheet – 'attributable to business development' after 38 new stores were opened last year, including 29 boutiques and 5 outlets.
The opening of the stores also continued at the beginning of 2017, with the inauguration of 4 spaces in the first three months of the year. Going back to 2016, the group, in continuity with previous years, continued to improve the Versus brand. The company has also developed the online channel. Gianni Versace spa, although it closed with a loss of 24,1 million, has decided to distribute 6 million in dividends.
“The 2016 financial year recorded a positive progress in terms of business volume, of 3,7%, but not sufficient to fully absorb the increase in operating costs associated with the development of the network and non-recurring costs associated with organizational changes – reads the financial statements – despite the continuous research on the industrial front and a rational containment of operating costs with a view to their sustainability, the 2016 financial year shows a 45,5% reduction in EBITDA, which to 44,3 million, with an incidence on ordinary revenues equal to 6,6%, against that of 12,5% of the previous year”. The company's net financial position was negative by 8,5 million euro. Shareholders' equity also decreased by 9,7 million, affected by the results for the year, the movements in the reserve and the disbursement of the dividend, as explained again in the 2016 financial statements
