Italy Luxury Brand Brunello Cucinelli 2019 Financial Report For The First Half Of Fiscal Year

Italy luxury group Brunello Cucinelli (Bunero Guchirali) released its core financial data in the first half of fiscal year 2019. Thanks to the excellent performance of the spring and summer series and the growth of market demand in the autumn and winter series, the group has strengthened the long-term goal of doubling sales in 10 years.

Chairman and CEO Brunello Cucinelli is very satisfied with the performance in the first half of fiscal year 2019. He said that sales growth in the first half of the 2019 fiscal year is in line with their long-term expectations of doubling sales in the next ten years. The steady growth of EBITDA also means that the group is running healthfully and its profitability is also growing. The spring and summer series were excellent, and the autumn and winter series were excellent. The results of the first order of 2020 spring and summer men's wear and children's wear series released in June also showed positive development trend. They are very much looking forward to the upcoming spring and summer women's clothing series in the upcoming 2020.

As of June 30, 2019, the key financial data for Brunello Cucinelli 2019 in the first half of fiscal year are as follows:

Sales grew by 8.1% to 291 million euros, up 7.2% over the same period.

EBITDA (profit before depreciation and amortization) increased by 7.9% to 49 million 900 thousand euros, with a profit margin of 17.1%.

Net profit is 22 million 800 thousand euros (excluding income from the "Patent Box" preferential tax system), which was 23 million 800 thousand euros in the same period last year.

The channels are as follows:

Sales of single brand retail channels increased by 12% to 150 million euros, or 51.5% of total sales, representing an increase of 3.7% over the same period last year, thanks mainly to the excellent sales performance of the 2019 spring summer series.

Sales of single brand distribution channels increased 1.7% to 18 million 200 thousand euros, accounting for 6.2% of total sales.

Sales of multi brand wholesale channels increased 6.5% to 123 million euros, accounting for 42.3% of total sales.

As of June 30, 2018, there were 102 single brand retail boutiques and 28 single brand dealer stores in the world.

2019 in the first half of fiscal year, the Brunello Cucinelli brand performance in various markets is as follows:

Sales in the Greater China region increased by 15.9% to 28 million 800 thousand euros, accounting for 9.9% of total sales. In order to understand the market and better do cultural exchanges and communication work, they set up a special Chinese team.

Italy's domestic market sales increased by 1.1% to 44 million 300 thousand euros, or 15.2% of total sales, compared with the total sales volume. "Consumption savour" is the key word in Italy's local market, and Pitti Uomo men's wear week is still an important channel for the group to contact customers, suppliers and the media, and understand the consumption tastes and business changes in the local and international markets.

In addition to Italy, sales in Europe increased 9.7% to 92 million 400 thousand euros, accounting for 31.7% of total sales, and high net worth tourists and local residents contributed to sales growth.

Sales in North America increased by 9% to 94 million 100 thousand euros, or 32.3% of total sales, thanks to the good performance of franchised stores and multi brand sales channels.

Sales in the rest of the region increased 5.3% to 31 million 800 thousand euros, accounting for 10.9% of total sales.