BRDH Burani

 

TIDMBRDH 
 
RNS Number : 5074R 
Burani Designer Holding N.V. 
30 April 2009 
 

BURANI DESIGNER HOLDING N.V. ("BDH") 
 
BURANI DESIGNER HOLDING'S LISTED LEATHER GOODS DIVISION ANTICHI PELLETTIERI 
ANNOUNCES SHAREHOLDER APPROVAL OF 2008 FINANCIAL STATEMENTS 
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 
75.9% stake through its 93% owned subsidiary Mariella Burani Family Holding, has 
announced today shareholder approval of its financial statements for the year 
ended 31 December 2008. 
 
 
 
 
Enquiries: 
 
 
Burani Designer Holding N.V.    Tel:+39 02 7642 0111 
Carol Brumer, IR 
 
 
Shore Capital (NOMAD)    Tel:+44 20 7408 4090 
Dru Danford 
Stephane Auton 
 
 
 
 
PRESS RELEASE 
ANTICHI PELLETTIERI 
Cavriago - April 30, 2009 
 
 
THE SHAREHOLDERS OF ANTICHI PELLETTIERI SPA TODAY APPROVED THE FINANCIAL 
STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2008; APPROVED NOMINATIONS TO THE 
BOARD OF DIRECTORS AND THE BOARD OF STATUTORY AUDITORS;  EXTENDED THE CURRENT 
SHARE BUYBACK PROGRAM 
 
 
The Shareholders of Antichi Pellettieri S.p.A., convened today to approve the 
Financial Statements for the full year ended December 31, 2008 that reflect: 
 
  *  REVENUES of EUR 397.7 million (+32.5%) vs. EUR 300.2 million in 2007 
 
 
 
  *  EBITDA of EUR 76.0 million (+59%) vs. EUR 47.8 million in 2007 
 
 
 
  *  EBIT of EUR 52.8 million (+47.3%) vs. EUR 35.9 million in 2007 
 
 
 
  *  PRETAX INCOME of EUR40.9 (+47.2%) vs. EUR 27.8 million in 2007 
 
 
 
  *  NET INCOME of EUR 38.4 million (+45.5%) vs. EUR 26.4 million of 2007 
 
 
 
  *  NET FINANCIAL POSITION RECLASSIFIED of EUR 49.5 million, reflecting a debt/equity 
  ratio of 0.18 at December 31, 2008. 
 
 
 
Consolidated revenues of EUR397.7 million (+32.5%) compared to EUR300.2 million in 
2007, reflect the capital gain realised on the sale of 49% of APBags to 3i, the 
first time consolidation of Mandarina Duck, the full year consolidation of 
Dadorosa, as well as 5% organic revenue growth realized during the year. 
 
 
The 5% organic revenue growth was driven primarily by: 
  *  The strong growth of the Group's own brands Baldinini (+32%) and Braccialini 
  (+22%); 
  *  The expansion of the Group's licensed brand portfolio and organic growth 
  realized by existing licensed brands including Vivienne Westwood, Gherardini, 
  Aquascutum, and Missoni; 
  *  20% organic growth from the Group's Directly Operated Stores, and 17% organic 
  growth in sales to the Group's franchises; both complemented by the 72 boutique 
  inaugurations during the year; 
  *  Organic growth in emerging luxury markets (+17.6%), mostly driven by the 
  performance of Russian and Eastern European markets. 
 
 
 
Consolidated Ebitda reached EUR76.0 million (+59%) compared to EUR47.8 million 
generated last year. Ebitda margin improved from 15.9% in 2007 to 19.1% in 2008. 
2008 Ebitda incorporates the net capital gain realised on the sale of 49% of 
APBags to 3i, the first time consolidation of Mandarina Duck, the full year 
consolidation of Dadorosa, and the benefits of the Group's strong sales mix: 
  *  Own brands generate 85% of consolidated revenues; 
  *  Export markets generate 63% of consolidated revenues, with 41.5% from emerging 
  luxury markets; 
  *  Direct distribution channels generate 53% of consolidated revenues, with 11.9% 
  from the Group's own store network. 
 
 
 
Consolidated EBIT of EUR52.8 million (+47.3%) vs. EUR 35.9 million in 2007, 
reflecting an Ebit margin of 13.3%. 
 
 
Consolidated Pretax Income of EUR40.9 million (+47.2%) vs. EUR 27.8 million in 2007, 
reflecting a Pretax margin of 10.3%. 
 
 
Consolidated Net income of EUR38.4 million (+45.5%) vs. EUR 26.4 million of 2007, 
reflecting a Net Income margin of 9.7%. 
 
 
NET FINANCIAL POSTITION RECLASSIFIED of EUR 49.5 million, reflecting a debt/equity 
ratio of 0.18 at December 31, 2008. 
 
 
Appointments to the Board of Directors 
Shareholders approved the 8 members appointed to the Board of Directors. The 
Board appointments are effective for the three year period 2009 to 2011, and 
expire at the shareholders meeting convened to approve the financial statements 
for the year ended December 31, 2011. The Board members follow: 
 
 
Giovanni Valter Burani - Chairman and Chief Executive Officer 
Giovanni Stella - Managing Director 
Walter Burani - Director 
Andrea Burani - Director 
Giuseppe Gullo - Director 
Riccardo Braccialini - Director 
Franco Carlo Papa - Independent Director 
Roberto Pilotto - Independent Director 
 
 
The members of the Board were elected from a single list, presented by the 
majority shareholder, Walter Burani. 
 
 
The Independent Directors, Franco Carlo Papa and Roberto Pilotto, meet all the 
requirements for independence as required in Article 148, par. 3 of Legislative 
Decree 58/1998. 
 
 
The appointment of Statutory Auditors 
Shareholders approved the nominations to the Statutory Board of Auditors. The 
appointments are effective for the three year period 2009 to 2011, and expire at 
the shareholders meeting convened to approve the financial statements for the 
year ended December 31, 2011. The Board members follow: 
 
 
Giovanni Grazzini - Chairman 
Pietro Lia - Standing Auditor 
Elvira Grazzini - Standing Auditor 
Enrico Pietra- Alternate Auditor 
Gian Marco Pilotti - Alternate Auditor 
 
 
The members of the Statutory Board of Auditors were elected from a single list, 
presented by the majority shareholder, Walter Burani. 
 
 
Approval of the Share Buy-back plan 
Shareholders agreed to extend the company's existing share buy-back plan, 
providing for the purchase and sale of up to 10% of the Group's outstanding 
common shares (4.549.932 shares).  The plan will remain in effect for one year 
and expire at the shareholders meeting convened to approve the financial 
statements for the year ended December 31, 2009. AP held 4.204.991 treasury 
shares (9.24% of the total outstanding shares) at April 30, 2009. 
 
 
Share transactions will be effected in markets regulated by Article 132 of 
Legislative Decree No. 58 dated February 24, 1998 and Article 144bis,1.B of 
Consob Regulation 11971/99 as modified by the Market Abuse Directive ("MAD") in 
conformance with these markets' operating policies and procedures. 
 
 
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. 
 
 
 
 
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. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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