(Tiper Stock Exchange) – Brunello Cucinelli closed the 2022 financial year with a net profit of 87.2 million euros, up by +54.9% compared to 2021. Net revenues reached 919.7 million euros, with a growth of 29 .1% at current exchange rates (+24.8% at constant exchange rates).
EBIT, equal to 134.4 million Euros, is up by 74.5%, with a margin that reaches 14.6% compared to 10.8% in the previous year.
Important investments were made in 2022, amounting to 72.5 million euros, plus 15.05 million euros
for the acquisition of 43% of the prestigious Cariaggi Cashmere Wool Mill.
Net financial debt characteristic equal to 7.1 million Euros, a further improvement compared to the 23.0 million of the previous year.
“2022 was a year for our Fashion House that we define as one of high inspiration, of consistent growth, but above all of an incisive connotation of the brand for its identity in style, craftsmanship, exclusivity and in the way of showing respect to Creation. Let’s consider this year 2023 as the beginning towards a new time, animated by the awakening of great values and great ideals; and perhaps it is time to imagine something current in the world of blue-collar work, restoring moral and economic dignity to artisan trades, since our Italy is a manufacturing country well-liked by the whole world”, he comments Brunello CucinelliExecutive President and Creative Director of the Fashion House that bears his name.
The excellent first quarter almost over and the important Fall Winter 2023 Men’s/Women’s order collection that has just ended allow the company to review growth estimates have risen of revenues for the year 2023 from 12% to 15% and guess too for 2024 a growth of 10%.
The BoD. resolved to propose to the Shareholders’ Meeting, convened for 27 April 2023, the distribution of a dividend of 0.65 euro per share (payout ratio of 50%).
After the noble international Neiman Marcus Fashion Award 2023 received a few days ago at
Paris, which represents a sort of “Oscar” of fashion, given the excellent sales in the first quarter almost
concluded and the conspicuous collection of Fall-Winter 2023 men’s and women’s orders, we have chosen to raise the
estimates bringing them to a growth in revenues for the year of around +15%, and at the same time we imagine for
2024 a healthy increase of around +10%.”