MILAN — The effects of the COVID-19 pandemic hurt OTB’s bottom line in 2020.
While the Italian group in 2019 was back in the black, reporting growth in all its brands, from Diesel and Maison Margiela to Marni, Viktor & Rolf and Amiri, as well as production arms Staff International and Brave Kid, in 2020 group earnings before interest, taxes, depreciation and amortization were dented by the difficult global scenario. They amounted to 176 million euro, down 7.3 percent compared with 190 million euros in 2019.
Operating profit decreased 23.7 percent to 13.5 million euros, compared with 17.7 million euros in 2019, net of extraordinary and non-recurring provisions of 21.1 million euros.
OTB’s consolidated sales amounted to 1.31 billion euros, a 14.3 percent decrease compared with 1.53 billion euros in 2019.
The group emphasized a 20 percent increase in revenues at Maison Margiela, which posted growth in all geographies and channels.
At the group level, the online channel grew more than 26 percent in its direct channels.
Diesel, thanks to the launch of its Moon omnichannel platform, saw its e-commerce sales increase and represent 13.3 percent of total revenues, compared with 7.9 percent in the previous year. The online channel, considering also the indirect sales, represents now more than 24 percent of Diesel’s total business.