Italian fashion company Aeffe reports FY20 sales of €279 mn

Fashion

27 Apr `21

2 min read

Aeffe SpA, an Italian fashion and luxury goods company, has reported 23.4 per cent revenue decline to €279.6 million in its complete fiscal 2020, that ended on December 31, 2020, compared to the revenue of €361.5 million in the previous fiscal. The group incurred a net loss during the year of €21.4 million (FY19: profit €11.7 million).

Aeffe SpA, an Italian fashion and luxury goods company, has reported 23.4 per cent revenue decline to €279.6 million in its complete fiscal 2020, that ended on December 31, 2020, compared to the revenue of €361.5 million in the previous fiscal. The group incurred a net loss during the year of €21.4 million (FY19: profit €11.7 million). #

“In such a challenging economic context as that determined by the profound impact of the pandemic cause by Covid-19, the Group has demonstrated strong resilience and prompt managerial responsiveness. The flexibility of its business model, combined with the creativity, strength and distinctiveness of its brands, made it possible to face the new complicated situation with determination and effectiveness and to emerge even more strengthened by the crisis,” Massimo Ferretti, executive chairman of Aeffe Spa, said in a press release.

Aeffe SpA, an Italian fashion and luxury goods company, has reported 23.4 per cent revenue decline to €279.6 million in its complete fiscal 2020, that ended on December 31, 2020, compared to the revenue of €361.5 million in the previous fiscal. The group incurred a net loss during the year of €21.4 million (FY19: profit €11.7 million). #

EBITDA during FY20 was €4.5 million (€53.1 million).

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