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2017 third year of record revenues and ebitda. Net profit at historic highs: more than 100 million euros (+58.1%)

- 12:01 Financial

Record Revenues and EBITDA for the third year in a row thanks to the excellent performance recorded in all the geographic areas where the Group operates. Net profit at historic highs thanks to improved operating leverage and tax rate. Strong network expansion with a total of 346 new stores and 117 shop-in-shops thanks to strong M&A activity.

Main results for 2017:

  • Consolidated REVENUES of 1,266.0 million euros, up 12.5% at constant exchange rates and 11.7% at current exchange rates compared to 2016
  • EBITDA net of non-recurring expenses reached 217.5 million euros, or 17.2% of revenues, an increase of 50 basis points compared to the prior year. EBITDA as reported reached 212.5 million euros, or 16.8% of revenues, an increase of 13.7% compared to 2016
  • NET PROFIT as reported amounted to 100.6 million euros, an increase of 58.1% compared to 63.6 million euros recorded in the prior year. The as recurring figure amounted to 95.0 million euros, an increase of 34.2% compared to 2016
  • NET FINANCIAL DEBT was 296.3 million euros, up with respect to the 224.4 million euros reported at December 31st, 2016, mainly due to significant investments in M&A
  • FREE CASH FLOW was positive for 98.0 million euros, an increase of 15.5 million euros, after absorbing net capex of 70.7 million euros 
  • Proposed dividend of 11.0 euro cents per share, 57.1% higher than the previous year, with a pay-out of around 24% on the consolidated net earnings per share 

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The Board of Directors approves the draft Financial Statements and the Consolidated Financial Statements as at 31 December 2017