Nice Footwear records H1 revenues of 14.8 million euros
29 January, 2022
The board of directors of Nice Footwear S.p.A. recorded total net revenues of 14.8 million euros for the first half period. Revenues achieved abroad amounted to 7.49 million euros, while revenues in Italy amounted to 7.37 million euros.
"Our current strategy focuses on luxury and the premium segment and the economic data relating to the last six months make us confident in proceeding more quickly on the realization of our business plan,” said Bruno Conterno, CEO of Nice Footwear.
The company’s EBITDA for the first half amounted to 1.1 million euros, with an incidence on revenues equal to 7.43 percent, while EBIT was equal to 0.62 million euros (4.22 percent on revenues).
With its own brand Kronos and license brand Ellesse, Avirex and Conte of Florence as well having distribution of G-star, the company reported net profit of 0.36 million euros.
The company said in a statement that taking into account the unfavourable situation of the footwear market, considering the impact of the pandemic on the sector, the first half of the company must be considered substantially positive despite having had a negative impact on the increase in transport costs and duties that occurred during the period and the local closures abroad.
This is the first consolidated half-year report drawn up by the group, so there is no comparison data available for the first half of last year.
On January 19, 2022, the company acquired 80 percent of EMMEGI S.r.l. (Emmegi), a Paduan company that represents excellence in the Italian production of women's bags for the fashion sector in the premium segment.
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Source: fashionunited.uk
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