MILAN — Publicly listed companies globally “registered a good growth rate and maintained excellent” earnings before interest, taxes, depreciation and amortization in the first half of the year, according to consultancy Pambianco Strategie di Impresa, based here.
In its study released Tuesday, Pambianco said total revenues of all public companies from every geographic area in the period climbed 11.1 percent to 97.7 billion euros, or $109.6 billion at current exchange. EBITDA represented 17.5 percent of total sales compared with 17.9 percent in the first half last year.
“It appears that the crisis has partly been overcome and partly did not very much touch the big groups,” stated the research.
Pambianco analyzed 15 Italian firms, from Luxottica to Caleffi; 10 European companies, including LVMH Moët Hennessy Louis Vuitton and Jimmy Choo, and 13 American companies, from Gap to Movado.
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Total sales of Italian companies amounted to 10.5 billion euros, or $11.8 billion, gaining 13.2 percent from the same period last year. The companies that grew the most were Moncler, up 35.5 percent; Italia Independent, up 34.7 percent, and Luxottica, up 19.6 percent. Total EBITDA represented 19.9 percent compared with 19.8 percent last year. The best-performing in terms of EBITDA were Prada, 24.1 percent; Moncler, 24 percent, and Luxottica, 23.4 percent.
Revenues of the 10 groups in Europe, excluding Italy, totaled 57.77 billion euros, or $64.82 billion, rising 17.5 percent. Sales at Pandora climbed 39.1 percent; Hennes & Mauritz was up 23.1 percent, and Hermès International was up 20.6 percent. As the latter has not released its EBITDA yet, Pambianco studied nine companies, and their EBITDA represented 19.4 percent of sales compared with 19.9 percent in the first half of 2014.
EBITDA at Pandora represented 36.6 percent of sales; at Swatch, 22.7 percent, and at LVMH, 22.4 percent.
Sales of the American groups totaled 29.41 billion euros, or $33 billion, compared with 29.47 billion euros, or $33.06 billion, last year. Of note, G-III Apparel Corp. revenues were up 14.8 percent; Hanes Brands advanced 13.7 percent, and Kate Spade gained 9.6 percent. Total EBITDA represented 12.9 percent of sales, compared with 13.9 percent in the same period in 2014. Pambianco highlighted EBITDA at Tiffany’s, representing 22.6 percent of sales; Limited Brands, 18.5 percent, and VF Corp., 14 percent.