Nice Footwear reports increase in annual sales and profit

Nice Footwear SpA reported consolidated net revenues of 32.8 million euros, up by 51 percent compared to the previous year and up by 35 percent compared to the pro-forma consolidated financial statements.

The company attributed this increase to the acquisition of two companies Favaro Manifattura Calzaturiera Srl and Emmegi Srl, as well as to the development of the Asian companies.

Commenting on the results, Bruno Conterno, president and CEO of Nice Footwear said: “2021-2022 was a significant year for our company which led to achieving results in line with the growth path and the objectives we set ourselves during the previous year."

The company’s revenues in Italy were equal to 17.1 million euros and international revenues were 15.7 million euros.

The subsidiary Nice Footwear Asia Ltd increased sales revenues from 2 million euros in the previous year to 3.9 million euros in the financial statements closed on April 30, 2022.

EBITDA stood at 3.4 million, up by 46 percent and by 23 percent compared to the pro-forma consolidated financial statements. EBIT equalled 1.85 million euros, up 26 percent and up by 2 percent compared to the pro-forma consolidated financial statements.

Net profit amounted to 1.27 million euros, an increase of 45 percent and up 7 percent compared to the pro-forma consolidated financial statements.