Piquadro Announces Consolidated Earnings Results for the Fiscal Year Ended March 31, 2014; Provides Earnings Guidance for the Fiscal 2015; Proposes Dividend for the Fiscal Year Ended March 31, 2014
June 18, 2014 at 09:09 am EDT
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Piquadro announced consolidated earnings results for the fiscal year ended March 31, 2014. The company reported a net profit of EUR 3.51 million (USD 4.76 million) for the fiscal year ended March 31, 2014, up by 8.4% on the year. Consolidated turnover rose 12.1% to EUR 63 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 12% to EUR 8.91 million and earnings before interest and tax (EBIT) went up 22.5% to EUR 6.44 million. The company had a net debt of EUR 10.2 million at the end of March 2014, up from the EUR 8.5 million debt as of March 31, 2013, mostly due to the payment of EUR 1 million in dividends for the 2012/2013 fiscal year and investments of EUR 4 million.
For the fiscal 2015, the company expects to continue growing, although at a slightly lower pace, due to the slowdown in the Eastern European markets on which it generates 7.4% of its sales. The company also expects its EBITDA margin to benefit from the reorganization of some less profitable business lines and from the operating leverage.
The company's board of directors proposed a dividend payment of EUR 0.02 per share for the fiscal 2014 for a combined EUR 1 million.
Piquadro SpA is an Italy-based company engaged in the fashion industry. The Company is active in the design, production and distribution of leather accessories under its own brand name. The Companyâs product portfolio includes womenâs bags, travel bags, briefcases, belts, wallets, key rings, cigar cases, organizers, umbrellas and backpacks, among others. The Company sells its products through two distribution channels, such as Directly Operates Stores (DOS) and indirect channel (Wholesale). The Companyâs subsidiaries includes Piquadro Espana Slu, Piquadro Deutschland Gmbh, Unibest Leather Goods Zhongshan Co Ltd, Piquadro Swiss SA, Piquadro France SARL, Piquadro UK Ltd, Piquadro Hong Kong Ltd, Piquadro (Trading) Shenzhen Co Ltd and Piquadro Taiwan Ltd.
Piquadro Announces Consolidated Earnings Results for the Fiscal Year Ended March 31, 2014; Provides Earnings Guidance for the Fiscal 2015; Proposes Dividend for the Fiscal Year Ended March 31, 2014