Salvatore Ferragamo reports 6% revenue increase for full year 2014
Salvatore Ferragamo reports 6% revenue increase for full year 2014 totalling 1,332 billion euros, with EBITDA+13% and EBIT+12%. The Asia Pacific area is confirmed as the Group’s top market in terms of Revenues, representing 37%of total in FY2014, up by over 5%(+7%in 4Q 2014), despite the tensions registered in Hong Kong in the last part of the year. A major contribution was given by the retail channel in China, which in FY2014 recorded a 18%growth compared to the same period in 2013.
Europe posted an increase in Revenues of 9%, compared to the same period in 2013 (+14%in 4Q 2014), even if penalized by the ongoing geopolitical tensions, which negatively impacted the global tourist flows, and by the enduring difficult economic situation. North America registered an increase in Revenues of 5%in FY2014 (+2%in 4Q 2014 that had a hard comparison base, +11%in 4Q2013). The Japanese market showed an increase in Revenues of 4% in FY 2014 (+6% in 4Q 2014), registering a 4% decrease at current exchange rates, due to the deterioration of the Japanese currency. Revenues in Central and South America showed solid results with an increase of 14%in FY2014 (+17%in4Q2014).