Press Releases and Statements
Benetton Board approves Results for the first nine months of 2005
Consolidated revenues 1,288 million euro (up 2.8%), net income 89 million euro
Xổ số miền nam chủ nhậtPonzano, 11 November 2005 – The Benetton Group Board of Directors today approved the consolidated results for the first nine months of 2005, prepared in accordance with International Financial Reporting Standards (IFRS).
Revenues for the nine months of 2005 were 1,288 million euro, up 2.8%, compared with 1,253 million in the corresponding period of 2004. Revenues for the quarter were 446 million euro, up 13.7% compared with the third quarter of 2004. Revenue performance benefited from the good reception by the market of products in the new collections, especially the 2005 fall/winter collection, as well as from increased revenues in the directly owned stores.
The contribution margin was 468 million euro (36.3% of revenues) substantially in line with the 472 million of the first nine months of 2004, influenced in particular by the further actions undertaken for the development of the network adopted with the 2005 fall/winter collection and, in part, offset by the high production efficiencies achieved.
In the third quarter, the contribution margin increased to 160 million euro (up 4.8%) compared with 152 million in the corresponding quarter of 2004 due to the increased volumes of reorders in the period.
EBIT was 10.7% of revenues (138 million euro) against 12.1% in the first nine months of 2004 (152 million euro).
Xổ số miền nam chủ nhật In the third quarter EBIT was 9.6% of revenues (43 million euro) compared to 12.7% in the same period of the previous year.
Net income for the period was 89 million euro and 6.9 % of revenues, compared with 104 million in the first nine months of 2004.
Xổ số miền nam chủ nhật In the third quarter of 2005, net income was 26 million euro against 35 million in the third quarter of 2004.
Total net Group investments in the first nine months of 2005 were 79 million euro compared with 29 million euro in the first nine months of 2004, mostly dedicated to the sales network and development of new markets.
Xổ số miền nam chủ nhậtFree cash flow from normal operations in the first nine months was positive by 56 million euro (negative 62 million excluding the sale of 118 million euro of short terms financial assets), compared with a positive amount of 24 million euro in the same period of 2004.
Xổ số miền nam chủ nhậtThe net financial position was 565 million euro, compared with 592 million as of September 30, 2004 and 441 million euro as of December 31, 2004. The change compared with year-end was due, apart from normal cyclical movements of working capital, to investments made and dividends distributed.
Xổ số miền nam chủ nhậtRegarding the 2005 year-end forecast, the management has up-dated its year-end previsions, following the market’s good reception of products in the new collections, with revenues forecast around 1,720 million euro, EBIT around 10% and net income around 6%.
Benetton Group Results
Xổ số miền nam chủ nhậtConsolidated statement of income
Financial situation – highlights
Statement of cash flow
(A) Includes receipts from sales of securities of 118 million euro.
(B) Includes the payment of substitute tax of 124.5 million euro.
(C) Includes residual impacts of the sale of the sports equipment segment of 49 million euro.
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