The Group’s operating results improved compared to the first quarter of 2021, driven by sales growth and a more favorable mix of revenue by region, distribution channel and product portfolio, outside edge to lower promotional sales rates, the company said in a media release.
A near-normal return to business, in most regions, has identified an increase in the percentage of cost revenue for services (by 27% of revenue in the first 6 months of 2022, compared to 23.8% in the first half of 2021) and the cost of using third-party assets (equal to 6.8% of revenue in the first half of 2022, compared to 6% in the first half of 2021). In contrast, the proportion of personnel expenses decreased (equivalent to 24.7% of revenue in the first 6 months of 2022, compared with 25.7% in the first 6 months of 2021), although the Group’s workforce increased. .
The Tod’s Group, the Italian company engaged in luxury and quality footwear, accessories and clothing, announced consolidated sales of €467.5 million for the first half of 2022 ended June 30. , up 17.4% compared to the first half of 2021. Group revenue reached 455.4 million euros, up 14.3% compared to the first half of 2021, while EBITDA amounted to 90.6 million euros.
The operating result was 17.7 million euros, with a profit margin of 3.8% on sales, compared with an operating loss of 2.7 million euros in the first half of 2021.
During the first six months of 2022, the Group invested 17 million euros in tangible and intangible fixed assets, slightly lower than the 19 million euros in the first half of 2021. Most of these investments were for the expansion and updating of the DOS network; The rest is concerned with continuous innovation at the industry and enterprise level, with a particular focus on digital.
Total operating net working capital was 314.7 million euros as of June 30, 2022, broadly corresponding to a balance of 314.5 million euros as of June 30, 2021.
The net financial position is negative and equal to 574.3 million euros, against a debt of 562.3 million euros, as of 30 June 2021. As of 30 June 2022, the Group’s shareholder equity is 1,007.2 million euros, compared to €984.6 million balance as of June 30, 2021.
Diego Della Valle, Group President and CEO, commented: “The Group’s revenue grew 17.4% in the first half of 2022 and returned to a higher value compared to 2019. Thanks to revenue growth, this half-year recorded an improvement in profitability. operating profit. We are pleased with these results, which confirms our appreciation for the superior positioning of the brand and the high quality of our products. Meanwhile, we carefully examine the performance of international markets, which are currently difficult and full of unknowns, both from an economic and geopolitical point of view.
“Therefore, we pay utmost attention to the evolution of costs related to energy, logistics and raw materials. We also attach great importance to the rationalization and efficiency of the distribution network and the development of multi-channel channels. channel, with the goal of increasing like-for similarity and revenue with higher margins.”
Fiber2 Fashion News Desk (KD)