MILAN — Italian fashion group Aeffe SpA on Thursday reported a greater net loss for 2013 as sales decreased and some operating costs increased.
The company — listed on the Italian bourse’s STAR segment — said net losses for 2013 amounted to 3.2 million euros, or $4.3 million, on revenues that were down 1.2 percent to 251.1 million euros, or $331.4 million.
Dollar amounts are converted at average exchange for the periods to which they refer.
Aeffe controls the Moschino, Alberta Ferretti and Pollini brands, and produces and distributes collections for brands including Emanuel Ungaro and Cédric Charlier.
The company said consolidated earnings before interest, taxes, depreciation and amortization for 2013 decreased 9.6 percent, to 20.6 million euros, or $27.4 million, from 2012, due mainly to “costs incurred for promotional activities and human resources primarily related to Philosophy, Ungaro and Cédric Charlier.” The company added: “These actions will produce their benefits starting from fiscal year 2014.”
The EBITDA margin for the year was 8.2 percent, down on the previous year’s 9 percent.
While EBITDA figures decreased in the ready-to-wear division, to 18.4 million euros, or $24.5 million, from 20.7 million euros, or $27.5 million, the company saw a slight increase in the operating results at its footwear and leather goods division, where EBITDA increased to 2.2 million euros, or $2.9 million, from 2.1 million euros, or $2.8 million in 2012.
Net debt in 2013 increased slightly to 88.6 million euros, or $117.8 million, from 87.9 million euros, or $116.9 million the previous year.
Massimo Ferretti, executive chairman of Aeffe SpA, said: “We are satisfied with the results of the group, especially thinking about the future. Fiscal-year 2013 was a transition year, in particular with regard to the reorganization of the brand portfolio.”
Pointing to changes at Maison Moschino as well as to the upgrade of Alberta Ferretti, Cédric Charlier and Emanuel Ungaro by Fausto Puglisi collections, Ferretti added: “With such renewed offering, the group will be able to put in place initiatives to support future growth, aimed at strengthening its presence across wholesale, retail and on-line channels, whose first positive results are showing in the ongoing sales campaign for the autumn-winter 2014-2015 collections.”
The company had previously reported full-year sales figures on Feb. 13.
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