11 MAR
CALZEDONIA CONSOLIDATES THE RESULTS
In 2018, the turnover of the Calzedonia Group stood at € 2,303 million (+2% at constant exchange rates and -0.5 at current exchange rates).
The proportion of foreign sales increased noticeably reaching 55% of total sales. The volume of sales through e-commerce continues to grow. The Group aims for strong integration between the network of brick-and-mortar stores and online sales in order to offer the consumer a wide range of choice in terms of purchase method, suitable for the different regions in which the group operates.There is progressive expansion of sales points both abroad and in Italy; during last fiscal year, there was an increase of 217 new sales points, of which 207 were abroad. The largest number of openings were conducted in the following countries: Russia, China, Spain, France and the United States. As of the 31/12/2018, a total of 4,671 sales points were operating under the Group's brands, of which 2,965 were abroad and 1,706 were in Italy. The growth targets in European countries continue to be met, encouraged by the good results attained in 2018. The year was characterised by important store openings in Japan, China, Hong Kong, Macao and the United States, among which the opening in New York, Broadway 521 was of particular importance.
The EBITDA is equal to €478 million, with a proportion of revenues of 20.8%. Investments amounting to €209 million were made on the commercial front in order to strengthen and renew the retail channel, increasingly integrating it with the digital channel, and on the production front with investments in cutting-edge technologies with a view to keeping the Group's factories as innovative as possible. Investments are supported by a sound financial position that, at the end of 2018, shows a positive net financial position equal to €13 million.
Active in 52 countries, the Group intends to work under a policy of consolidation in the main European markets, with a strong focus on achieving maximum profitability for the commercial branches still in the growth phase. Simultaneously, branch openings are continuing in the United States, China and Japan, markets considered commercially strategic and for which the Group has ambitious plans for development. On the production front, in addition to the factories already present in Italy, Sri Lanka, Croatia, Romania, Bulgaria, Serbia and Bosnia, the first factory in Ethiopia began producing last October.
The Falconeri brand is going through a period of particularly significant growth, alongside an important strengthening in management, in preparation for important openings such as Tokyo and New York. In Italy, the development of Intimissimi Uomo and of Atelier Emé will continue. The requalification and modernisation of existing Calzedonia, Intimissimi and Tezenis stores will also continue.
In 2018, the Group began to coordinate in a more organized way the many initiatives which have for years put it to the forefront of sustainability.
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