Revenues for the first nine months of financial year 2013/2014
January 08 2014 - 4:09AM
Italian Regulatory (Text)
Press release
Piquadro discloses the consolidated revenues for the first nine
months of financial year 2013/2014
Silla di Gaggio Montano (BO), January 8, 2014 Â Today the Board of
Directors of Piquadro S.p.A, which designs, manufactures and
distributes innovative tech design leather goods, disclosed its
Consolidated First Nine Months Revenues as of December 31, 2013.
For the first nine months ending December 31, 2013, the Piquadro
Group reported consolidated revenue of Euro 45.327 million, up
11.9% compared to Euro 40.509 million reported for the same period
of the previous year. That increase was determined by the growth of
both DOS and Wholesale distribution channels. The revenues reported
by the DOS channel showed an increase of about 16.8% compared to
the same period of the 2012/2013 financial year. On a like for like
basis, deducting the sales recorded by the shops which were not yet
opened as at 1st April 2012, the performance of sales revenues
reported by the DOS channel was about 1.7%. The Same Store Sales
Growth (SSSG), assuming an equal number of days open and constant
rates of exchange, reported a positive change equal to 2.5% growth
in the first nine months. Despite the persisting financial and
economic crisis, the SSSG registered in the Italian stores has also
been positive during the first nine months, and equal to about 1.0%
(assuming an equal number of days open). The revenues of the
Wholesale channel, which represented 64.1% of the Group total
turnover on 31 December 2013, showed a 9.3% increase due to a 29.5%
increase in sales in foreign markets. Sales in the European
Wholesale market grew by 20.9% and now represent 27% of net sales.
On 31 December 2013 the Foreign Market Wholesale channel (which
includes Europe and the area outside of Europe defined as the "Rest
of the World"), represented 19.2% of consolidated net sales (16.6%
as at December 31, 2012).The Italian Wholesale channel represents
44.9% of consolidated net sales (49.0% on 31 December 2012) with a
2.4% increase. The Italian market, which accounted for a 70.8% of
the Group's turnover, showed a 8.7% increase, also due to the
opening of 7 DOS Directly operated stores and 2 franchised stores.
The European market recorded increasing revenues up by 24.9% (Euro
9.69 million with a ratio of 21.4% of the net sales revenues)
compared to the same period in 2012/2013 (19.2% as of December 31,
2012). The Extra European market (called the "Rest of the World"
with Piquadro selling its products in 16 countries) showed a 9.8%
increase compared to the same first nine months of 2012/2013. The
consolidated revenue in the third quarter of 2013/2014
(October-December 2013) showed a 17.7% increase compared to the
same period of the 2012/2013 financial year. In that quarter sales
reported by the DOS channel were up about 16.0% and the growth of
the Wholesale channel's revenues was 18.9% compared to the same
period of the 2012/2013 financial year. "The results of the first
nine months of the year confirm the signs of development already
seen in the first semester and are proof of the validity of our
strategy, allowing us to look toward the future with renewed
confidence," said Marco Palmieri, President and CEO of Piquadro.
"We are convinced, and the results of the first nine months period
confirm, that the originality of the brand positioning and the
solid distinctive features of the product, if supported by suitable
communication campaigns and sound operations, can also be
successful elements on the international market."
Piquadro gives notification that the Consolidated  Nine Month
Financial Report as of December 31, 2013 will be approved by the
Board of Directors and will be communicated no later than February
11, 2014. The data given in this report are preliminary and were
not yet examined by the Board of Directors. The manager responsible
for preparing the corporate accounting documents declares, pursuant
to paragraph 2 of Article 154 bis of the Consolidated Law on
Finance, that the accounting information contained in this press
release corresponds to the documents, books and accounting
records.
Piquadro S.p.A Piquadro is an Italian brand of professional and
travel items characterized by innovative design and technological
content. In Piquadro products, the flair of Italian craftsmanship,
the quality of selected leather and attention to detail combine
with the three distinctive values that inspire the brand: design,
functionality and technology. The Company's origins date back to
1987 and an idea of Marco Palmieri, its Chairman and Chief
Executive Officer. Piquadro is based in Silla di Gaggio Montano,
near Bologna, where all design, project, planning, acquisition,
quality control, logistics, marketing, communications and
distribution activities are carried out. In financial year
2012/2013, which ended on March 31, 2013, the Group's consolidated
sales amounted to Euro 56.3 million and its consolidated net profit
was approximately Euro 3.3 million. Piquadro sells its products in
over 50 countries worldwide, through a distribution network that
includes 101 single - brand boutiques (56 in Italy and 45 abroad,
57 DOS Â directly operated stores and 44 franchised). Piquadro has
been listed on the Italian Stock Exchange since October 2007.
Piquadro S.p.A. Media relationship Paola Di Giuseppe Tel +39 02
37052501 paoladigiuseppe@piquadro.com
Piquadro S.p.A. Investor relationship Roberto Trotta Tel +39 0534
409001 investor.relator@piquadro.com
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