Calzedonia FY’12 revenues up 16 percent

Calzedonia, for the financial year of 2012 reported that

its total revenues amounted to 1,503 million euros (1,952 million dollars), up 16 percent over 2011.The Calzedonia group has reaffirmed its growth trend and fortified its leadership in the market for intimate wear. The Group now looks abroad to expand its brand names - Calzedonia, Intimissimi, Tezenis and Falconeri.

Growth was registered in the sales for all of the Group's different brands: for instance over 16 percent in revenue for Calzedonia, over 8 percent for Intimissimi and over 25 percent for Tezenis. Falconeri, which offers knitwear in cashmere and other precious natural weaves through 41 different sales outlets (as of the end of 2012), shows intriguing prospects for growth in Italy and abroad.

The network of stores for the brand totals to 3,300 sales outlets, with a target of 3,700 for the end of 2013. Most of the new openings are concentrated abroad, where more than half of all sales outlets are currently located. It expects strong growth in many countries including Russia (the second largest market after Italy), and major challenges in the heart of Europe; especially in Germany and France and in the Middle East.

The year 2012 was marked by developments that had a negative impact on the economies in many countries where the Group operates. Faced with a deeply disturbed macro-economic environment, Calzedonia has decided not to unload all of these cost increases on consumers but to focus instead on maintaining an optimal quality-price ratio.

The Group's commercial strategy was to intensify its commitment to the development of new markets, along with all the costs incumbent to the start-up phase in a new country, and to increase its foreign investments in major advertising campaigns via mainstream channels. This resulted in a decrease in the contribution margin, which settled from 62.6 percent to 60.8 percent, driving the consolidated EBITDA to 17 percent of the turnover, while the Group’s net profit amounts to 137 million euros (178.2 million dollars) as compared to 134 million euros (174 million dollars) of 2012.