BRDH Burani

    RNS Number : 0734I
  Burani Designer Holding N.V.
  13 November 2008
   



    13 November 2008


    BURANI DESIGNER HOLDING'S LISTED LEATHER GOODS DIVISION ANTICHI PELLETTIERI ANNOUNCES Q3 RESULTS FOR THE 9 MONTHS ENDED SEPTEMBER 30,
2008


    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 70% stake, made the following announcement today: 



    PRESS RELEASE
    ANTICHI PELLETTIERI
    Cavriago - November 13, 2008


    ANTICHI PELLETTIERI REPORTS REVENUES FOR THE 9 MONTHS ENDED SEPTEMBER 30, 2008 OF EUR333.7 MILLION REFLECTING GROWTH OF +43%,
ACCOMPANIED BY GROWTH IN EBITDA OF 113%, AND PRETAX INCOME OF +163%

    The Board of Directors of Antichi Pellettieri S.p.A. approved the consolidated financial statements for the nine months ended September
30, 2008 which reflect: 

    *     Revenues of EUR 333.7 million (+ 43.5 %) vs. EUR 232.5 million in 9M 2007.
    *     EBITDA of EUR 80.9 million (+ 112.8%) vs. EUR 38 million in 9M 2007.
    *     EBIT of EUR 74.1 million (+ 138.6%) vs. EUR 31.1 million in 9M 2007.
    *     Pre-tax income of EUR 66.7 million (+162.9%) vs. EUR 25.4 million in 9M 2007


    FINANCIAL HIGHLIGHTS - 9M 2008

    Consolidated revenues of EUR 333.7 million (+43.5%) compared to EUR 232.5 million in 9M 2007, reflect the first time consolidation of
Mandarina Duck, the capital gain realised on the sale of 49% of APBags to 3i, as well as strong organic revenue growth realised during the
period, driven primarily by:

    *     The performance of the footwear and handbags division, reflecting the excellent results of Baldinini footwear and accessories
collections and the Coccinelle and Braccialini handbags and accessories collections;

    *     The growth in AP's emerging luxury markets business (+28%), driven by the performance of Russian and Eastern European markets
(+38%) and continued growth in Italy (+20%).

    Ebitda reached EUR 80.9 million, growing +112.8% compared EUR 38 milliion generated during the same period in 2007. Ebitda growth is
attributable to the first time consolidation of Mandarina Duck, the capital gain realised on the sale of 49% of APBags to 3i, and the strong
sales mix that reflects: 

    *     Own brands which generate 85% of consolidated revenues;
    *     Direct distribution channels that generate 54% of consolidated revenues with 23% generated from DOS and Franchisees; and
    *     Export markets that generate 63% of consolidated revenues, with 41% generated from emerging luxury markets.

    Ebit increased to EUR 74.1 million (+138.6%) for the nine month period from EUR 31.1 million in 9M 2007.


    Pre-tax income of EUR 66.7 million (+162.9%) from EUR 25.4 million in the same period of 2007.
        
    Net Financial Position - Debt at September 30, 2008 of EUR 33.8 million vs. EUR 107.7 million at June 30, 2008, that reflects the sale
of 49% of APBags to 3i as well as the consolidation of the Net Debt of Finduck, resulting in a consolidated debt/equity ratio of 0.11.

    STRATEGIC AND OPERATING HIGHLIGHTS - 9M 2008

    2008 has proven to be an important year in the businesses development thanks to:

    *     The acquisition, closed in August 2008, by 3i of 49% of APBags S.p.A. for EUR118 million. APBags S.p.A is a newly established
sub-holding company that houses the Group's handbags and accessories companies. The transaction is expected to accelerate the development of
APBags in the Chinese and Indian markets; 

    *     The nomination of Christopher Bizzio as CEO of APBags. Dott. Bizzio was General Manager of Trussardi and has matured years of
experience in the luxury goods sector with Ferragamo and in strategic consulting;

    *     The acquisition, closed in June, 2008, of 100% of Finduck for EUR 36.9 million, a company that owns the renowned Mandarina Duck
brand;

    *     The continued extension of the Group's retail network, which consists of 309 boutiques at September 30, 2008 (89 DOS and 220
Franchisees), including the 54 boutiques (12 DOS and 42 franchisees) inaugurated in the first six nine of this year, of which over xx% are
located in emerging markets;and

    *     New product launches for the Group's own brands and for third party brands including Aquascutum, Gherardini and Amazon Life.  

    In addition, AP Shareholders agreed, at the extraordinary shareholders' meeting held on October 6, 2008, to transfer the AP shares from
the Expandi segment of the Italian Stock Exchange to MTA in continuous trading. The transfer is expected to be effective in early December.


    OUTLOOK 2008

    As witnessed in the above results, the accessible luxury goods market continues to offer many opportunities for Antichi Pellettieri and
the Group is benefiting from its consolidated position in this market as well as from its strong presence in emerging markets, a key growth
driver. The positive performance in the first nine months of the year, the encouraging sell-out statistics from F/W 2008-2009 collections,
the contribution of Finduck, and the benefits of entering into a strategic partnership with 3i give management confidence in the near and
long term prospects for the business.

    "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 and Strategic Development: cbrumer@mariellaburani.com,
     tel. (+39) 02 76420111 
    Daniela Zari Director of Corporate Communication: 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
 Sarah Gestetner
 Lindsay Noton

    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.





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