Salvatore Ferragamo revenues rise 9 percent in 2013

REPORT_ Salvatore Ferragamo Group revenues for the year 2013 witnessed a growth of over 9 percent to 1,258 million euros (1,743.9 million dollars) compared to 1,153 million euros (1,598.4 million dollars) in FY 2012. Revenue growth at constant exchange rates was 11 percent.

All geographical areas, with the sole exception of Japan, registered a double-digit growth in turnover, both at current and constant exchange rates, during the fiscal. The Asia Pacific area is confirmed as the group's top market in terms of revenues, representing about 37 percent of total in FY 2013, up by 10 percent. A major contribution was given by the retail channel in China, which recorded a growth in total revenues of 20 percent compared to FY 2012.

Europe posted an increase in revenues of 13 percent, compared to the same period in 2012, whereas double-digit revenue growth was recorded also in North America, with an increase of over 12 percent in FY 2013. The Japanese market showed an increase in revenues of 1 percent in FY 2013, registering a 13 percent decrease at current exchange rates due to the meaningful deterioration of the Japanese currency. Revenues in Central and South America also saw an increase of 15 percent.

In FY 2013 the retail distribution channel posted consolidated revenues rise of 9 percent compared to the same period in 2012. All product categories, with the exception of ready to wear, delivered an increase in revenues in FY 2013, both at current and constant exchange rates. Footwear saw growth of over 8 percent, handbags and leather accessories, over 18 percent, which together represent over 76 percent of group total turnover, and fragrances witnessed growth of over 14 percent. In FY 2013 the gross profit reached 799 million euros (1,107.6 million dollars), recording 8 percent growth.

During the same meeting the board of directors also examined and approved the non-audited draft company statutory financial for the year ended December 31, 2013 of the Florence headquartered Salvatore Ferragamo, that recorded total revenues of 721 million euros (999.5 million dollars), up by 17 percent, an operating profit of 142 million euros (196.8 million dollars), up by 47 percent and a net profit of 105 million euros (145.5 million dollars), down 1 percent.