MILAN — Italian and foreign fashion groups logged growth in profitability and revenues last year, and prospects are positive for 2015, too, according to the latest Pambianco Strategie di Impresa study.

Sales of Italian fashion groups rose 4.9 percent in 2014, reaching 33 billion euros, or $44 billion, compared with 31.5 billion euros, or $41.6 billion, in the previous year. In 2013, revenues had grown 3.8 percent.

Companies that showed the biggest gains were Valentino Fashion Group, up 20.3 percent; Moncler, up 19.6 percent, and Versace, up 16.9 percent.

Dollar amounts have been converted at average exchange rates for the periods to which they refer.

Pambianco also analyzed total earnings before interest, taxes, depreciation and amortization of 21 companies. This represented 20.6 percent of sales, compared with 21.8 percent of sales in 2013.

Among the 21 firms, those that were most profitable were Bottega Veneta, with EBITDA representing 34.4 percent of sales; Gucci (35.3 percent), and Moncler (33.5 percent).

For 2015, Pambianco expects the Italian groups that were studied in 2014 to show a growth in revenues of 3 to 4 percentage points and a decrease in profitability of 1 to 2 percentage points.

Fashion groups outside Italy reported total sales gains of 5.7 percent to 141.3 billion euros, or $188 billion, compared with 133.6 billion euros, or $176.3 billion, in 2013. Hennes & Mauritz grew the most (up 17.8 percent), followed by Hermès International (up 9.7 percent) and Mango (up 9.3 percent). Total EBITDA of the 15 groups that released their data represented 18.3 percent of sales, down from 19.2 percent in 2013.

Swatch Group saw EBITDA of 24.2 percent, LVMH Moët Hennessy Louis Vuitton at 23.9 percent and Hugo Boss, 23 percent.

For 2015, Pambianco expects a growth in sales of 3 to 4 percentage points and profitability down 1 to 2 percentage points for foreign groups.

Pambianco also analyzed financial results pertaining to the first quarter of the year of publicly listed Italian and foreign companies. In Italy, the sample totaled 13 companies for a total value of revenues of 5.1 billion euros, or $5.7 billion, compared with 4.5 billion euros, or $6.1 billion, in the same period last year. The companies that grew the most were Moncler (up 38.2 percent), Basicnet (up 24.8 percent) and Luxottica (up 20 percent). Pambianco said EBITDA refers to 11 companies, as Bottega Veneta and Gucci’s data were missing, and grew to 18.8 percent of sales from 17.9 percent. The best performing firms were Moncler (32.7 percent), Luxottica (21.3 percent) and Salvatore Ferragamo (18.7 percent).

Fourteen foreign companies were studied, and their quarterly revenues rose 11 percent to 31.4 billion euros, or $35.5 billion, from 28.3 billion euros, or $38.7 billion. The companies that grew the most were Saint Laurent (up 33.8 percent), H&M (up 25.3 percent) and Hermès (up 18.9 percent).

Pambianco concluded that the first quarter of the year shows signs that sales and profitability are picking up. The Milan-based consultancy also noted that those companies that distribute their products through monobrand stores fare better, both in Italy and abroad.