FINANCE

3.7% for the Randazzo Group

The Optician's Chain closed 2011 with turnover of EUR 111 million

Overall earnings rose by 3.7% to EUR 111.1 million (+ 4.8% for the optics segment), maintaining net profits of EUR 3.76 million and taking the gross operating margin (EBITDA) to EUR 13.9 million. These are the year-end figures for 2011 for the Randazzo Group, a leading chain of optician's shops in Italy with 182 sales outlets, which have been approved by the Board of Directors.

 

The company's other economic and financial indicators are also positive: a 9% increase in R.O.E. and R.O.I. up 12.4%. Moreover, net financial payables have been reduced from EUR 35.9 million to EUR 29.9 million.

 

According to Randazzo Group President Agostino Randazzo, "We are satisfied that we have achieved the targets set at such a difficult time for the Italian market. Investments in the network and in the customer have reaped their benefits and we consider that this is the right recipe for the future. These results were achieved due to a focus on the customer and on the quality and value for money of our products, along with the maintenance of high professional standards. In future, we will be focusing exclusively on our optician's services after restructuring other collateral business such as multimedia. Our plan to open 10 new outlets over the next 10 years will continue, with a focus on city-centre locations and environmentally sustainable shops according to a zero-impact overall business approach".

 

The company, boosted by owners with a strong interest in the business and a management team headed by the director general Luca Sacilotto, has 103 sales outlets and 79 corners in hypermarkets, with a total of 1,000 contract workers, optician's sales staff and employees. The unification of the three brands Optissimo, Randazzo and Ottica Romani under the single brand Optissimo - Gruppo Randazzo has recently been completed.