(Finance) – Cover 50a company listed on Euronext Growth Milan and specialized in the creation and marketing of “high-end” trousers with its own brand PT – Pants Torino, closed 2021 with total revenue equal to 24.6 million euros, an increase of 11.3% compared to the previous year. Sales were characterized by the predominant foreign component and the increase in product lines: PT Torino for men, PT Torino Denim and PT Torino for women. “The balance of the year 2021 closes with extremely positive results, although the impact deriving from the pandemic emergency is still evident, which still prevents us from returning to the levels of 2019“commented the CEO.
Company profitability is increasing both at the level of EBITDAwhich reaches 3.8 million euros (15.4% of revenues), which of EBITequal to 3.2 million euros (12.9% of revenues) which of Net incomeequal to 2.5 million euros (equivalent to 10.3% of total revenues), up by 257% compared to the 2020 financial year. Net financial positionpositive, exceeds 19 million euros (19.2 million), an improvement on the previously reported result, albeit still positive.
“The recovery in turnover and the increase in profitability, (in line with our expectations), show how the sudden decline recorded in the previous year was due solely to external factors, and how also the management immediately put in place useful activities to counter this scenario – added the CEO – The last two sales campaigns (SS22 – FW22), or those that will generate turnover in 2022, recorded a further strong growth in orders, both in terms of volumes and revenues, also sustained from the extension of the product portfolio to other product categories (total look). In light of the results obtained and the company’s ability to react to the moment of crisis, we continue the path we have taken even more confidently, cautiously optimistic of being able to return to pre-pandemic levels with the next financial year 2022“.
The board of directors will propose to the shareholders’ meeting, scheduled for April 28, 2022, the distribution of a dividend of € 0.40 per share (€ 1.76 million overall, yield 5.6%, payout ratio of 69.7%). The expiry date will be 05/16/2022 (record date 05/17/2022), with payment starting from 05/18/2022.