Consumer durables: SAFILO (no rating): strong Q1 13 results with no impact of the G. Armani license loss

News published on April Tuesday 23, 2013
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Yesterday evening Safilo reported Q1 13 results above market expectations. Q1 sales came in at EUR297m, beating the consensus (EUR284m) by 4.5%. Thanks to a double-digit growth in continuing brands, the group’s profitability did not suffer from the loss of G. Armani. Thus, Q1 EBITDA reached EUR34.7m (CS: EUR30.7m), enabling the EBITDA margin to improve 50bp to 11.7%.

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