Shareholder's Meeting approves Annual Report for 2015
April 13 2016 - 7:46AM
Italian Regulatory (Text)
PRESS RELEASE
AEFFE: The Shareholder's Meeting Approves The Financial Statement
For The Year Ended 31st December 2015
San Giovanni in Marignano, 13 April 2016 - The Shareholder's
meeting of Aeffe SpA, company listed on the STAR segment of Borsa
Italiana, which operates in the luxury sector, with a presence in
the prêt-à-porter, footwear and leather goods division under
renowned brand names such as Alberta Ferretti, Philosophy di
Lorenzo Serafini, Moschino, Pollini, Jeremy Scott and Cédric
Charlier, has approved today in ordinary session the Financial
Statement st th for the year ended 31 December 2015 in the version
submitted by the Board of Directors on 10 March 2016, whose data
were released to the market in a special announcement on the same
date. The distribution of dividends is not expected. During the
Shareholders' Meeting Aeffe Group Consolidated Financial Statement
for FY 2015 was also presented. Revenues of the Parent company
Aeffe SpA amounted to 137.4 million, up by 11.5% at current
exchange rates compared to 2014. In 2015 Ebitda was equal to 6.5m
(with an incidence of 4.7% of consolidated sales), compared to 6.6m
in 2014 (5.3% of total sales). Ebit was substantially in line with
2014 and amounted to 3.9m (2.8% of sales), compared to an Ebit of
3.91m in the previous year. Net financial expenses significantly
decreased amounting to 2.5m compared with 3.7m in 2014, with a 1.2m
decrease (-33%). Thanks to the drop in financial charges, the
Profit before taxes for the period reported a 1.2m increase,
amounting to 1.4m compared to 0.2m in 2014. In addition, in 2015
the Parent company Aeffe SpA posted a Net Profit of 0.9m, compared
to the net profit of 0.03m in 2014, result mainly obtained thanks
to the reduction in financial charges as commented above. st st As
of 31 December 2015, net financial debt amounted to 77.1m, compared
to 73.9m as of 31 December 2014, with a 3.2m increase. The increase
in net financial debt was mainly related to deterioration of the
operating cash flow due to the trend of collections and payments
connected to commercial transactions with other group's companies
in the last quarter of the year. st Shareholders' equity was equal
to 135m, compared to 133.4m as of 31 December 2014. At consolidated
level, the key data are reported below: · · · · Consolidated
revenues of 268.8m, compared to 251.5m in 2014 (+7.0% at current
exchange rate) Ebitda of 19.3m (7.2% on sales), compared to 25.7m
in 2014 (10.2% on sales), following the increase in costs incurred
to strengthen the visibility of the Group's brands Net Profit for
the Group of 1.5m, compared to a net profit of 2.7m in 2014 Net
financial debt of 80.5m, compared to 83.5m as of 31 December 2014,
with a 3m improvement
st th
*** Other information Based on the reasoned proposal of the Boards
of Statutory Auditors, the shareholders meeting also decided to
confer the appointment for the complete auditing of the annual
financial and consolidated reports of Aeffe S.p.A. concerning the
years from 2016 to 2024, of the limited auditing of the half year
consolidated financial report from 2016 to 2024, and for the
verification of the correct company's general accounting as well as
the correct evaluation of the management activities in the
accounting books for the years from 2016 to 2024 to the company RIA
Grant Thornton S.p.A.
*** "The executive responsible for preparing the company's
accounting documentation Marcello Tassinari declares pursuant to
paragraph 2 of art. 154 bis of the Consolidate Financial Law, that
the accounting information contained in this document agrees with
the underlying documentation, records and accounting entries".
*** st The Annual Financial Statements at 31 December 2015 approved
by the Shareholders' Meeting, as well as the st Consolidated
Financial Statements at 31 December 2015 are available at the
Company's offices, at Borsa Italiana SpA and also in the Investor
Relations section of the Company's website at the internet address
www.aeffe.com. ***
Contacts: Investor Relations AEFFE S.p.A Annalisa Aldrovandi +39
0541 965494 annalisa.aldrovandi@aeffe.com www.aeffe.com
Press Relations Barabino & Partners Marina Riva +39 02 72023535
m.riva@barabino.it
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