Antichi Pellettieri 1st Quarter Results

RNS Number : 2783U
Burani Designer Holding N.V.
13 May 2008

BURANI DESIGNER HOLDING'S LISTED LEATHER GOODS DIVISION ANTICHI PELLETTIERI ANNOUNCES 2008 FIRST QUARTER RESULTS

Burani Designer Holding N.V (AIM: BRDH), a company offering Italian lifestyle products and services to customers world-wide, today notes
that the company's listed leather goods division, Antichi Pellettieri, majority owned by BDH's subsidiary Mariella Burani Fashion Group
S.p.A (MBFG), in which BDH holds a 61% stake, has made the following announcement:

PRESS RELEASE
ANTICHI PELLETTIERI
Cavriago - May 13th, 2008

EXCELLENT FIRST QUARTER FOR ANTICHI PELLETTIERI WITH A 23.8% INCREASE IN REVENUES AND A MORE THAN PROPORTIONAL INCREASE IN EBITDA
(+34.3%) AND PRETAX INCOME (+40.4%).

The Board of Directors of Antichi Pellettieri Spa yesterday approved the financial results for the first quarter of 2008 which reflect:

* Revenues of EUR104.9 million (+ 23.8 %) vs. EUR84.8 million in 1Q 2007.
* EBITDA of EUR18.8 million (+ 34.3%) vs. EUR14.0 million in 1Q 2007.
* EBIT of EUR16.9 million (+ 39.0%) vs. EUR12.1 million in 1Q 2007.
* Pretax income of EUR14.4 million (+40.4%) vs. EUR10.2 million in 1Q 2007.

FINANCIAL HIGHLIGHTS - 1Q 2008

Consolidated revenues increased to EUR104.9 million (+23.8%) compared to EUR84.8 million in 1Q 2007.

Total revenue growth was driven by:
* The optimal performance of the Group's own brands including Baldinini (+37%) and Sebastian luxury footwear collections (+39%) as
well as Braccialini handbag and accessories collections (+36%);
* Increased revenues from direct distribution channels, as evidenced by the 27% growth of the Groups Directly Operated Stores (DOS)
during the quarter;
* Dynamic growth realised in emerging luxury markets (+33%), driven by the optimal performance of Russia (+30%), Eastern Europe
(+34%), and the Middle East (+80%).
* Total growth realised in Italy (+22%), driven again by Baldinini footwear collections and Braccialini handbag and accessories
collections;
* the consolidation of Dadorosa (acquired in July 2007).

EBITDA reached EUR18.8 million for the year (+34.3%) with an EBITDA margin of 17.9% versus 16.5% for the same period of 2007. EBITDA
growth is primarily attributable to the improvement in the Group's sales mix with an increasing focus on higher margin products, increased
operating leverage, and economies of scale.

The Group's favourable sales mix is evidenced by:

* Own brands which generated 83.5% of consolidated revenues;
* Direct distribution channels representing 46.1% of consolidated revenues with 12.1% generated from DOS and Franchising;
* export markets representing 63.6 % of consolidated revenues.

EBIT increased to EUR16.9 million (+39.0%) from EUR12.1 million in 1Q 2007.

Pretax income increased to EUR14.4 million (+40.4%) in 1Q 2008 vs. EUR10.2 million in 1Q 2007.

Net Financial Position at March 31, 2008 reflected Net Debt of EUR72.2 million vs. EUR63.5 million at December 31, 2007 reflecting an
optimal debt/equity ratio of 0.43.

STRATEGIC AND OPERATING HIGHLIGHTS
2008 has proven extremely dynamic with:
* The acquisition of 100% of Finduck, owner of the renowned brand, Mandarina Duck (May 2008). The Mandarina Duck brand, established
amongst the leading international brands in the accessible luxury goods market, provides a full range of handbags and accessories for
travel, work, and sports. The brand is particularly known for the light, functional nature of its accessories made possible by a unique,
innovative mix of technical materials particularly suited to a young, dynamic clientele;
* The acquisition of 14% of the equity of Francesco Biasia Spa (May 2008). With this acquisition, AP owns 100% of Francesco Biasia's
share capital;
* The continued development of the Group's retail network, which included 191 boutiques at March 31, 2007 (50 DOS and 141
Franchisees), with the inauguration of:
* 4 DOS (1 Baldinini in Florence, 1 Francesco Biasia in Rome, 2 Sebastian - 1 in Milan and 1 in Paris),
* 14 Franchisees, of which 4 Braccialini (1 in USA, 2 in Russia and 1 in Turkey), 5 Baldinini (3 in Russia, 1 in Ukraine, 1 in
Turkey) and 5 Francesco Biasia (1 in Italy, 3 in Lithuania and 1 in Japan);
* New product launches including:
* Francesco Biasia men's accessories collection,
* Braccialini beachwear collection and Braccialini perfume,
* Baldinini perfume,
* The re-launch of Andrea Pfister footwear collections;
* The further integration of recently acquired companies with particular attention to the development of production, logistics, and
distribution synergies within the Group.

OUTLOOK 2008

As witnessed in the first quarter results, the accessible luxury goods market continues to offer many opportunities for Antichi
Pellettieri. The Group is benefiting from its strong presence in emerging markets which continue to drive growth and its limited presence in
the USA and Japan.
The encouraging sell-out statistics of the Spring/Summer 2008 collections, the positive DOS performance in the first quarter of the
year, and the impact of the Finduck acquisition, lead management to expect continued dynamic growth in 2008.

"The Financial Reporting Officer, Daniele Bardini, certifies - pursuant to art. 154-bis, paragraph 2 of the Uniform Finance Act
(Legislative Decree 58/1988) - that the information contained in this press release corresponds to the accounting documents, ledgers and
entries".

Contacts

Carol Brumer Investor Relations e Strategic Development: cbrumer@mariellaburani.com, tel. (+39) 02 76420111
Daniela Zari Director Corporate Communications: dzari@mariellaburani.com, tel. (+39) 02 76015354

Antichi Pellettieri is a European leader in the accessible segment of the luxury goods market with a consolidated international
presence. The Group designs, produces, and distributes handbags and accessories, footwear, and leather apparel collections characterised by
top quality and innovative design. A flexible business model provides for control at all critical phases of the production and distribution
cycle including, product design and development, production planning, raw material procurement, quality control, marketing, public
relations, and distribution. Production and logistics functions are outsourced to an established and qualified base of third party
contractors, closely controlled by AP to guarantee quality and efficiency.

Enquiries:

Burani Designer Holding N.V. Tel: +39 027 642 0111 / +39 348 256 1971
Carol Brumer (cbrumer@buranidh.com)

Citigate Dewe Rogerson Tel: +44 20 7638 9571
Kate Delahunty
Sarah Gestetner

www.buranidh.com

NOTES TO EDITORS

The BDH Group offers a complementary range of "Italian lifestyle" products and services to an international customer base. BDH is a
player in fashion apparel, leather goods and jewellery through its subsidiary Mariella Burani Fashion Group S.p.A. (MBFG), and in three
complementary business segments - beachwear & underwear, wellness spas & skincare and food design. BDH, listed on London's Alternative
Investment Market (AIM) in June 2007, focuses on growth through the acquisition and integration of quality "Italian lifestyle" businesses
and the creation of operating divisions able to benefit from scale and synergies of the BDH Group. The management believes that the
in-depth knowledge of luxury products, the value created by strategic shareholders, the skills of the BDH team management as well as the
Group's investment approach, represent a great opportunity of value creation for shareholders.

This information is provided by RNS
The company news service from the London Stock Exchange

END

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