Brunello Cucinelli reports 12.1% first quarter turnover increase
Brunello Cucinelli has announced a positive turnover of 111.7 million euros for its first quarter, up 12.1 % compared to the same period one year earlier.
The group recorded a net profit of 9.3 million euros, a 3.3% increase compared to the normalized net income it recorded one year earlier. As compared to its non-normalized net income, that’s to say including the capital gains it saw in the first quarter 2014, the group suffered a 2.3% decline in earnings, the company said in a statement.
The company’s sales especially rose in foreign markets (+15.2%), which account for 79% of its total turnover, with the US as its most important market, representing 30.9% of total sales and 34.5 million euros in turnover (+34% compared to the same period one year earlier). Sales in Europe, meanwhile, rose by 5.5% to 35.2 million euros.
Even sales in Italy were up (1.7%), while they were down one year ago on the domestic market, which only represents about 20.9% of total sales. Revenues reached 23.4 million euros in Q1 2015.
Brunello Cucinelli’s financial net debt was 68.2 million euros as of March 31, 2015 as compared to 28.3 million one year earlier. Brunello Cucinelli has invested heavily in both its sales network and its organizational structure.
Its store network increased from 98 locations as of March 31, 2014 to 110 one year later, 75 stores of which are directly managed.