(Finance) – Monnalisaa company specialized in high-end children’s clothing and listed on Euronext Growth Milan, closed the first half of 2023 with consolidated revenues equal to 21.9 million euros (22.6 million at 30 June 2022), with +5% of revenues from the retail channel (+7% at constant exchange rates). L’Adjusted EBITDA is equal to 2 million euros (2.2 million in comparative 2022), equal to 9.1% of turnover. The Net income it is negative for 3.6 million euros (for 1.5 million in the first half of 2022). The exposure to currency fluctuation mainly related to commercial activity towards group companies in currencies other than the euro had a negative impact, generating a negative effect of 769 thousand euros, compared to a positive effect of 757 thousand euros in the first half of 2022.
“We are continuing with the implementation of our new industrial projectwhich integrates the branding and distribution strategies of the previous plan with growth through licensing or production agreements with adult fashion brands, with the aim not only of increasing revenues, but even more so the profitability of the group – commented l ‘CEO Christian Simoni – The transformation process that we have carried out in the last five years, with enormous investments in our product development, production, logistics and distribution skills and capabilities, will allow us, in fact, to exploit a significant operational leverage effect, being able to grow without resorting to further investments and with a less than proportional growth in operating costs”.
“In this context, the launch of the La Martina project has an important significance of progress in our path of change, even before constituting a new revenue stream, with results that will be visible from the second half of next year – he added – At the same time, we are moving forward with improving the quality of distribution, which has rewarded us with a 7% growth in retail revenues at constant exchange rates, despite a moment of great uncertainty in some of the markets that are very important to us. The growth in the incidence of retail turnover, combined with careful management of production costs, has allowed us to achieve a sustained leap forward in margins”
L’net financial debt including the effects of the IFRS 16 accounting standard is equal to 29.4 million euros (28.9 million at the end of last year); adjusted net financial debt amounted to 11.3 million.