(Finance) – Gismondi 1754a Genoese company active in the production of high-end jewelery and listed on Euronext Growth Milan, in third quarter 2023 has reported total sales equal to 2,395,409 euros, down 8% compared to the third quarter of 2023. The overall consolidated results of sales of first 9 months they stand at 10,274,606 euros, equal to a growth of 7% compared to the first 9 months of 2022.
The decline in the third quarter of 2023, compared to the same period of 2022, was caused both by contraction of the retail market (-44% compared to the 2022 quarter) and by the reduction in sales of the European wholesale channel (-22% compared to the 2022 quarter) and the US wholesale channel (-32% compared to the 2022 quarter). However, all of this is partly compensated by one growth of Special Sales up 74% compared to the 2022 quarter.
“Despite the difficult economic moment caused by elements exogenous to the company – I am referring to the continuation of the Ukrainian conflict and the economic and social instability at a global level – I can point out that thanks to the special business model that has already supported us during the pandemic (our relationship of great closeness to end customers) we can present a positive result which gives us hope, but with the necessary caution, in the results for the end of the year”, commented the CEO Massimo Gismondi.