MILAN — Brunello Cucinelli SpA continued to grow in 2017, reporting that net profit climbed 13.4 percent to 42.1 million euros, excluding the benefits of the Patent Box tax break, compared with 37.1 million euros in 2016, lifted by all main markets and distribution channels.
Earnings before interest, taxes, depreciation and amortization rose 11.8 percent to 87.5 million euros.
For the 12 months ended Dec. 31, the company reported preliminary consolidated sales of 503.6 million euros, up 10.4 percent compared with 456 million euros in the previous year.
Chairman and chief executive officer Brunello Cucinelli said that “2017 has ended, reporting once again “particularly pleasing” results and showing a growth path that is consistent, moderate but sound — year in, year out. This growth is pursued both in the physical and online world in a balanced manner, and it has resulted in our business crossing the 500 million revenues threshold, an achievement that makes us very, very satisfied.”
Cucinelli said that the good performance in the company’s spring sales, “the excellent sales campaign in fall — which is now coming to an end — and the very special feedback from the national and international trade press seem to indicate that yet another positive year lies ahead, featuring double-digit growth in terms of both revenues and profit.”
“Our appealing development projects and the great brand protection effort online are the pillars of our daily work, a work that fascinates us and enables us to enthusiastically pursue and seek a good life,” concluded the entrepreneur.