Italian firm Aeffe posts double-digit growth across all markets in H1

Italian fashion and luxury goods company Aeffe SpA has reported 30.9 per cent jump in its first half (H1) revenue to €155.0 million compared to €118.9 million in the corresponding period of previous fiscal, reflecting positive contribution in double digits across all regions it caters to. Net profit during H1 expanded to €17.4 million (loss: €12.5 million).

 

“We are very satisfied with the performance of the first semester, featuring a significant increase in revenues and marginality for all our brands. Furthermore, on the strategic side, we believe that the acquisition of full control of Moschino and the relative integrated management will be important catalysts for the future development,” Massimo Ferretti, executive chairman of Aeffe Spa, said in a press release.

 

EBITDA for the reported period increased to €20.1 million (€0.6 million), while profit before tax was €6.3 million (loss: €14.1 million).

 

According to Aeffe, sales from Italy surged 17.0 per cent to €58.7 million, whereas sales from Europe (excluding Italy) advanced 34.9 per cent to €51.2 million with positive trends from Germany, UK and Eastern Europe in the wholesale channel. Likewise, sales in Asia and rest of the world during H1 FY21 accelerated 39.2 per cent to €34.8 million and America’s sales mounted 88.6 per cent to €10.3 million.

 

Sales from the Italian firm's wholesales channel escalated 40 per cent to €121.0 million, followed by stable sales from retail channel at €27.9 million during the first half.

 

“Looking at the second part of the year, we are therefore positive and we renew our enthusiasm to face the upcoming challenges with initiatives aimed at increasingly enhancing the distinctiveness of our brands and the evolutions of the current context,” Ferretti added.