FINANCE

Marcolin's results from the first half of the year 2012 have been approved

Giovanni Zoppas: "The company's focus on developing areas worldwide and the positive results achieved in them confirm the expectations of future growth"

The Board of Directors of Marcolin S.p.A., convened today under the chairmanship of Giovanni Marcolin Coffen, has reviewed and approved the results of the Marcolin Group relating to the first half of 2012.
In the first six months of 2012, the Marcolin Group confirms its significant profitability and improves its net financial position despite recording a slight drop in turnover (-2.7%), strongly influenced by the European market.

 

The Group's turnover amounted to 121.5 million euro (124.9 million euro in the first six months of 2011), down by 2.7% (-5.1% at constant exchange rates) compared to the same period of the previous financial year. In general, the Group's turnover, analysed by geographical area, reflects the market performance with growth in the Far East, Middle East and in America and a contraction in the Euro zone.

 

The excellent turnover performance recorded in the US market is clearly evident, recording an increase equal to +20.3%, also thanks to the positive effect of exchange rates. The figure at constant exchange rates still shows a significant growth, equal to +10.8%.

 

The Asian market also shows a good increase in turnover, equal to +12.1%. In particular, the most significant increases were recorded in the markets of China, Japan, Korea and Indonesia.
With regards to the Rest of the World area, good results were recorded in Canada, the United Arab Emirates and Australia.
The turnover break-down analysis shows how America and the Far East represent strategic markets for the Group's future development, in consideration of both the growth trend recorded over the last few periods and the nature of purchases made by consumers in those countries, mainly targeted at brands in the fashion and luxury segments, where the Marcolin Group plays a prominent role.

 

Giovanni Zoppas, CEO and General Manager of Marcolin: "The investments and the company's focus on developing areas worldwide, such as the USA and the Far East, and the positive results achieved in them confirm the expectations of the Group's future growth. Against this backdrop, 2012 is looking to be a year of substantial consolidation of the results achieved thus far".

 

The Group is continuing to strengthen its presence in Asia, through investments in resources in the sales and marketing area and with the recent opening of a new show room in Hong Kong.

 

The European market reflects the weakness of its macroeconomic scenario, albeit with extremely varied trends among the different countries, with some countries being more heavily affected by the contraction in the domestic demand, such as Italy, Spain and Portugal. The overall reduction in the sales generated in Europe is equal to 15.0%. Furthermore, it is noted how the impact of the European area on the Group's overall turnover, despite it being the area where the highest sales volumes are concentrated, has declined considerably, to the benefit of the growth of all the other geographic areas.

 

The performance of the Diesel line, the commercialisation of which started during the last quarter of 2011, was positive.
In addition, it must be pointed out that, compared to the first six months of 2011, part of the decline in sales is to be accounted for by the drop in turnover generated by the Ferrari brand, which exited the licence portfolio upon expiry of the contract, and by the John Galliano brand.