Italian fashion company Aeffe posts Q1 FY21 sales of €80 mn

Fashion

Italian fashion company Aeffe posts Q1 FY21 sales of €80 mn

18 Jun `21

2 min read

Aeffe SpA, an Italian fashion and luxury goods company, has reported 5.2 per cent revenue growth to €80.1 million in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the revenue of €76.2 million in the corresponding quarter of previous fiscal. The group’s net income for the quarter rose to €3.8 million (Q1 FY20: €4 thousands).

 

Aeffe SpA, an Italian fashion and luxury goods company, has reported 5.2 per cent revenue growth to €80.1 million in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the revenue of €76.2 million in the corresponding quarter of previous fiscal. The group`s net income for the quarter rose to €3.8 million (Q1 FY20: €4 thousands).#

“We think that the results approved today show positive signs leading to a gradual recovery, after a long period of global restrictions linked to the pandemic. The group reacted promptly on the offering side, proposing distinctive collections that are more focused and oriented to sustainability in terms of production process and durability,” Massimo Ferretti, executive chairman of Aeffe Spa, said in a press release.

 

Aeffe SpA, an Italian fashion and luxury goods company, has reported 5.2 per cent revenue growth to €80.1 million in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the revenue of €76.2 million in the corresponding quarter of previous fiscal. The group`s net income for the quarter rose to €3.8 million (Q1 FY20: €4 thousands).#

The company’s EBITDA for Q1 FY21 increased 63.5 per cent to €14.0 million (€8.6 million), while profit before tax was €6.9 million (€0.9 million).

 

Aeffe SpA, an Italian fashion and luxury goods company, has reported 5.2 per cent revenue growth to €80.1 million in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the revenue of €76.2 million in the corresponding quarter of previous fiscal. The group`s net income for the quarter rose to €3.8 million (Q1 FY20: €4 thousands).#

During the first quarter, group’s sales in the Italian market fell 2.6 per cent to €34.3 million (€35.2 million) due to the decline in retail channel, which suffered from both the rigid measures to contrast the spread of the pandemic, in terms of stores’ closures, and the lack of tourists. On the contrary, sales in Europe (excluding Italy) grew 8.4 per cent to €22.9 million (€21.1 million) with positive trend of Germany and Eastern Europe in the wholesale channel. Moreover, Asia and rest of the world sales surged 14.7 per cent to €17.8 million (€15.5 million), whereas America’s sales increased 16.7 per cent to €5.0 million (€4.3 million).

 

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