13/08/2015
Damiani Spa: Consolidated revenues for the first quarter +17%

PRESS RELEASE

Consolidated revenues for the first quarter +17%

Valenza, 13 August 2015 - The Board of Directors of Damiani S.p.A., the parent company of the Damiani Group that is active in the creation, production and distribution of high-end jewelry in Italy and abroad, approved the Interim Financial Report today regarding the first quarter (April-June 2015) of the 2015/2016 financial year.

During the first quarter of the 2015/2016 financial year, the Group recorded Revenues from sales and services of Euro 36.0 million, compared to Euro 30.8 million recorded in the same period of the previous financial year.
The growth of Damiani brand sales also continued in both monobrand and multibrand stores. This performance confirms the positive trend that is supporting the Group's strategic decision to invest in the development of its own direct distribution network in order to move closer to end-clients. As a result of this trend, the weight of retail on total revenues has reached almost 48%.

At 30 June 2015, the Group was managing 55 direct stores and 18 franchising boutiques located on the principal high streets of international luxury shopping.

OPERATING INCOME AND NET RESULT

In terms of income in the first quarter of the 2015/2016 financial year, the Damiani Group recorded improving results that also benefited from nonrecurring income, and thus generated a consolidated EBITDA totalling Euro 17.4 million Euro, an improvement of Euro 16.1 million compared to the figure of Euro 1.3 million recorded at 30 June 2014.
The Consolidated Operating Profit for the three-month period closed at 30 June 2015 was Euro 13.6 million, with an improvement of Euro 13.7 million compared to the loss recorded in the first quarter of 2014/2015, equal to Euro 0.1 million.
The Consolidated Net Result for the first quarter of the 2015/2016 financial year was positive for Euro 8.7 million, an improvement compared to the figure of Euro -1.0 million at 30 June 2014.

NET FINANCIAL DEBT

At 30 June 2015, the Group had net financial debt of Euro 36.2 million.

distributed by