ITALY: Moncler records 12% FY earnings growth
- FY earnings up 12%
- Adjusted EBITDA grows 19%
- Consolidate sales climb 19%
Moncler said growth was significant in all geographic areas
Luxury apparel group Moncler has reported full-year earnings growth that beat analyst expectations, boosted by strong growth in the Americas.
In the three months to the end of December, earnings climbed 12% to EUR92.1m (US$125.7m). Adjusted EBITDA rose 19% to EUR192m. Bloomberg analysts had predicted EUR187m.
Consolidated revenues grew 19% to EUR580.6m from EUR489.2m in the prior year period. Moncler said growth was significant in all geographic areas and across all distribution channels.
The company, which listed on the Italian Stock Exchange at the end of last year, recorded double-digit growth in all its international markets, with the Americas recording the highest growth of 44%.
CEO Remo Ruffini, said: "2013 will always be remembered as a significant year in Moncler's history. It was the year that marked not only the tenth anniversary of the brand's re-launch and the successful conclusion of the listing process, but it was also another year of double-digit growth."
- New wage ladder lifts workers towards living wages
- New scenarios driving sustainability in textiles
- US retailers to face logistics issues into 2015
- African apparel sector needs cooperation to thrive
- UK fashion sector prospects depend on partnerships
- Bangladesh worker dies as factory boiler ruptures
- Coats launches new services business in Vietnam
- Eight footwear factories lead on social compliance
- Global unions join forces on apparel wage poverty
- US firms eye Vietnam footwear growth ahead of TPP