Piquadro, 9-month turnover slightly up to 131.5 million euros

Piquadro 9 month turnover slightly up to 1315 million euros

(Finance) – Piquadroa company listed on Euronext Milan and active in the design, production and distribution of leather goods, has closed its first nine months of the financial year (as of 31 December 2023) with a sales equal to 131.5 million euros, an increase of 3.7% compared to the same period ended 31 December 2022 and equal to 126.8 million euros (+4.8% at constant exchange rates).

With reference to the brand Piquadrorevenues amounted to 58.5 million euros, an increase of 9.8%, those of TheBridge are equal to 25.2 million euros, an increase of 9.4%, and those of Maison Lancel to 47.7 million euros, a decrease of 5.4%.

There adjusted net financial position at 31 December 2023 it was positive and equal to approximately 15.0 million euros, an improvement compared to the positive adjusted net financial position of 14.6 million euros recorded at 31 December 2022; the net financial position is negative and equal to 25.4 million euros including the effect of the IFRS 16 accounting standard and an improvement of approximately 8 million compared to the NFP at 31 December 2022.

“Despite the deterioration of the geopolitical framework in the last quarter and China’s only partial recovery after Covid, the growth of the Piquadro group remains solid and the income dynamics they make us estimate a very positive year in terms of EBITDA and net profit – commented theCEO Marco Palmieri – Cash generation was positive and allowed the payment of 5 million euros in dividends, investments of 3.1 million euros and the purchase of treasury shares for 1.1 million euros.”