Press release
Piquadro S.p.A: The Board of Directors approved the Consolidated
Half year Financial Report as of September 30, 2013 Consolidated
Half-year
· Consolidated revenue: 29,89 million ( 27,39 million for the same
period of the previous year); · EBITDA: 4,6 million ( 5,1 million
for the same period of the previous year); · Consolidated Net
Profit: 1.97 million ( 2,43 million for the same period of the
previous year);
Silla di Gaggio Montano, November 21, 2013 Â Today the Board of
Directors of Piquadro S.p.A, which designs, manufactures and
distributes innovative ch innovative-design, high-tech leather
goods, approved its tech Consolidated Half-year Financial Report as
of September 30, 2013. year For the half-year at September 30,
2013, the Piquadro Group reported consolidated revenue of year
29.89 million, up 9.1% compared to 27.39 million for the same
period of the previous year. The increase in sales is attributable
to the good performances recorded on Italian market and foreign The
market, both Wholesale and DOS channels. Sales from the Wholesale
channel, which as of September 30, 2013 make up 67.0% of the
Group's holesale total revenue, showed a 5.5% increase over the
same period in the 2012/2013 financial year, benefiting among other
things, from the 34% increase of the foreign market selling. om The
rise in consolidated revenues from the DOS channel was about 17.4%
compared to the same period of the year ended March 31, 2013. This
increase was in turn the result of both the increase in sales
volume in existing stores as well as the contribution from the 15
new stores. sales from The Same Store Sales Growth (SSSG) data,
calculated as average global growth rates of profits registered in
the existing DOS on April 1, 2012, was positive and equal to the
2.0% growth in the quarter at current exchange rates (equal to the
opening days and at constant exchange rates, it was equal to a 2.9%
growth rate). From a geographical point of view, consolidated
revenues of the Piquadro Group as of September 2013 showed a 4.8%
growth on the Italian market, which accounted for 70.9% of the
Group's 70 turnover. The European market, which accounted for 21.1%
of the Group's turnover, increased by , 27.7%, compared to the same
period of the previous year. In non-European markets, where
Piquadro markets sells in 16 countries, consolidated revenues are
up 6.6% compared to the same period in the consolidated 2012/2013
financial year. As to profitability, the important investments of
the Group during the semester caused a decrease in the main
indicators. EBITDA was 4.6 million with a ratio of 15.3% to net
sales revenue ( 5.1 million and 18.5% of net sales in the same
period of 2012/2013 . The decrease was partially generated in
2012/2013). by the higher amortization of the period Group EBIT was
about 3.4 million (11.4% of net sales), rtization period. 11.4%
down about 11.9% compared to September 30, 20 ( 3.8 million, or
14.1% of net sales). September 2012 .1% sales) Consolidated net
profit amounted to 1.97 million, down 18.9% compared to the 2.4
million amounted achieved in September 30, 2012. As of September
30, 2013, Net Fin Financial Position was negative at 14.3 million.
The increase 3 compared to March 31, 3013 is due to the higher
investments of the period (about 2.0 million more compared
about
that the first semester of 2012/2013) as well as to the increase in
the Group's working capital which stands at 6 million. «The
half-year results demonstrate the effectiveness of the strategic
choices we made and further confirm the success of both the
commercial strategy and brand repositioning» states Marco Palmieri,
President and CEO of Piquadro. «The current quarter is reaffirming
the upward trend of the revenues, expected to be significantly
higher than in the two previous quarters.» The manager responsible
for preparing the Piquadro S.p.A.'s, financial reports, Roberto
Trotta, declares  pursuant to paraghraph 2 of Article 154-bisof
Italy's Legislative Decree 58/1998 Â that the accounting
information contained in this press release and relevant to first
half 2013/2014 results, corresponds to the documented results,
books, and accounting records. The Consolidated Half-year Financial
Report relevant to the first six months of 2013/2014 fiscal year as
of September 30, 2013, approved by the Board of Directors of the
company will be deposited and made it available in the head office
and on the website at the address www.piquadro.com, for delivery to
anyone who will request it, within the terms provided for by the
Law.
About Piquadro Piquadro is an Italian brand of professional and
travel leather goods characterized by innovative design and
technological content. The company originated from an idea of Marco
Palmieri, the current Chairman and Chief Executive Officer.
Piquadro is headquartered in Silla di Gaggio Montano, near Bologna,
where it carries out all design, project, planning, acquisition,
quality control, logistics, marketing, communications and
distribution activities. In the fiscal year ended March 31, 2013,
consolidated revenues amounted to 56.3 million and consolidated net
profit was approx 3.3 million. Piquadro sells its products in over
50 countries worldwide, through a distribution network that
includes 99 single-brand boutiques (55 in Italy and 44 abroad di
cui 56 DOS-directly operated stores and 44 franchised). Piquadro
has been listed on the Italian Stock Exchange since October 2007.
Piquadro SpA Investor relationship- Roberto Trotta Giuseppe Phone
+39 0534 409001 investor.relator@piquadro.com Piquadro SpA Media
relationship - Paola Di Phone + Tel +39 02 37052501
paoladigiuseppe@piquadro.com
Consolidated statement of financial position as at September 30,
2013 and March 31, 2013
(in thousands of Euro) ASSETS NON-CURRENT ASSETS Intangible assets
Property, plant and equipment Receivables from others Deferred tax
assets TOTAL NON-CURRENT ASSETS CURRENT ASSETS Inventories Trade
receivables Other current assets Receivables for derivative
financial instruments Tax receivables Cash and cash equivalents
TOTAL CURRENT ASSETS TOTAL ASSETS
30 September 2013
31 March 2013 Restated
4,552 12,883 871 1,489 19,795
3,951 12,684 877 1,424 18,936
16,246 23,281 1,514 1 1,226 14,185 56,453 76,248
14,227 21,517 870 1,447 20,476 58,537 77,473
Consolidated statement of financial position as at September 30,
2013 and March 31, 2013 31 March 2013 Restated1)
(in thousands of Euro) LIABILITIES EQUITY Share Capital Share
premium reserve Other reserves Retained earnings Group profit for
the period Total equity attributable to the Group Capital and
Reserves attributable to minority interests Profit/(loss)
attributable to minority interests Total share attributable to
minority interests EQUITY NON-CURRENT LIABILITIES Borrowings
Payables to other lenders for lease agreements Provision for
employee benefits Provisions for risks and charges Deferred tax
liabilities TOTAL NON-CURRENT LIABILITIES CURRENT LIABILITIES
Borrowings Payables to other lenders for lease agreements Trade
payables Other current liabilities Current income tax liabilities
TOTAL CURRENT LIABILITIES TOTAL LIABILITIES TOTAL EQUITY AND
LIABILITIES
30 September 2013
1,000 1,000 670 25,575 1,980 30,225 20 (10) 10 30,235
1,000 1,000 678 23,312 3,263 29,253 40 (20) 20 29,273
14,435 2,894 247 1,103 125 18,804 10,577 567 11,904 2,888 1,273
27,209 46,013 76,248
17,420 3,180 252 1,069 196 22,117 7,796 562 15,030 2,695 26,083
48,200 77,473
Consolidated income statement for the period ended September 30,
2013 and September 30, 2012 30 September 2012 Restated1) 27,395
357
(in thousands of Euro) Revenues from sales Other income OPERATING
COSTS Change in inventories Costs for purchases Costs for services
and leases and rentals Personnel costs Amortisation, depreciation
and write-downs Other operating costs TOTAL OPERATING COSTS
OPERATING PROFIT FINANCIAL INCOME AND CHARGES Financial income
Financial charges TOTAL FINANCIAL INCOME AND CHARGES PRE-TAX RESULT
INCOME TAX EXPENSES PROFIT FOR THE PERIOD attributable to: EQUITY
HOLDERS OF THE COMPANY MINORITY INTERESTS
30 September 2013 29,892 405
(2,246) 5,890 14,958 6,713 1,496 93 26,904 3,393
(859) 5,389 11,981 6,003 1,368 17 23,899 3,853
521 (859) (338) 3,055 (1,085) 1,970 1,980 (10) 1,970
467 (451) 16 3,869 (1,439) 2,430 2,430 2,430
EARNINGS PER SHARE (Basic) EARNINGS PER SHARE (Diluted ) EARNINGS
PER SHARE
1)
0.03960 0.03683
0.04860 0.04786
Starting from the Half Year Financial Report as at 30 September
2013, the Piquadro Group applied, on a mandatory and retrospective
basis, the revised version of IAS 19 Â Employee benefits, in
relation to the financial statements of the financial years that
commenced from 1 April 2013; therefore, the 2012/2013 comparative
data were re-determined consistently. The effects of the
retrospective application of said changes entailed the failure to
recognize an actuarial loss, reported for an amount of Euro 6
thousand in the income statement of the first six months of the
2012/2013, with an increase in the net profit for the above
mentioned period, including the related tax effect of Euro 3
thousand.
Piquadro (BIT:PQ)
Historical Stock Chart
From Jun 2024 to Jul 2024
Piquadro (BIT:PQ)
Historical Stock Chart
From Jul 2023 to Jul 2024
