Salvatore Ferragamo Annual Core Earnings Growth

Italy luxury goods group Salvatore Ferragamo SpA (SFER.MI) reported on Thursday's 2014 fiscal year report that Salvatore Ferragamo SpA Group subsidiary, Salvatore Ferragamo Ferragamo's real carrier Salvatore Ferragamo Group, achieved a strong growth of 12.7% of the year's core profit, increasing from 260 million euros in fiscal 2013 to 293 million euros, exceeding the market expectation of 281 million euros.

EBITDA profit margins increased by 130 basis points to 22% from 20.7% in the previous year, and Salvatore Ferragamo SpA chief financial officer Ernesto Greco said that the data will further increase slightly to 22.2%-22.3% this year after the earnings analysts' meeting.

Net profit for the year was 157 million euros, up 4.7% from 150 million euros in the previous year.

The group recommends an annual dividend of 0.42 euros per share, an improvement of 5% over the previous year's 0.40 euros.

Salvatore Ferragamo SpA (SFER.MI) increased by 2.74% to 28.52 euros on Thursday, bringing the cumulative increase to 39.72% in 2015.

Salvatore Ferragamo SpA Ferragamo chief executive Michele Norsa revealed earlier this month in the Salvatore Ferragamo 2015 autumn and winter fashion show that the group performed well during the Chinese New Year in February. Chinese tourists in South Korea, Japan, Australia, the west coast of the United States and Europe, including Italy, and other global markets have strong consumption, which greatly promoted the performance of retail stores.

He expects that the continued depreciation of the euro against the yuan will continue to attract more Chinese tourists to Europe for shopping and shopping, thereby countering the impact of Russian tourists' consumption to Europe due to the rouble depreciation.

It is estimated that the group's revenue growth rate will reach 10% of the market expected this year.

At the end of January, the group announced that the total annual revenue in 2014 was 1 billion 332 million euros, up 5.9% from the 1 billion 258 million euro in fiscal year 2013, and its growth rate continued to slow down compared with 16.9% in 2012 and 9.1% in 2013. The growth rate at the constant exchange rate was 6.5%, which was in line with market expectations.

The four quarter showed obvious signs of recovery, with a 9.3% increase in revenue, which was much faster than the 2.5% in the three quarter, exceeding group expectations.

Sales growth in the core markets Asia Pacific, Europe and North America slowed down last year.

According to the constant exchange rate, the Asia Pacific region, which is still the largest market in the group, is only 5.4% of its annual sales. Since its listing in 2011, it has fallen for the first time in double digits, with a total revenue of 496 million euros, accounting for 37.1% of the total in 2013. China's retail sales are the main driving force in the region, with an overall growth of 18% over the whole year.

The growth rates in Europe and North America decreased from 12.8% and 13% in 2013 to 8.6% and 5.2% respectively, while two sales were 355 million euros and 305 million euros respectively.

Sales in Japan increased by 3.8% annually, while Latin America continued to be strong, with sales rising by 13.5%.

Two pillars of the group

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Sales of leather goods increased by 4.9% and 13.2% annually, to 568 million euros and 471 million euros, accounting for 78% of group income.

There were also better perfumes, benefiting from the 23% growth in the four quarter, and the annual sales increased by 5.4% to 84 million 170 thousand euros.

Scarves and other accessories increased 0.1% to 90 million 64 thousand euros.

Garment sales continued to shrink, down 4.1% to 97 million 233 thousand euros compared with the same period last year.

By the end of the year, the group operated 373 direct outlets, contributing 833 million euros in sales to retail channels, up 4.7% compared to the same period last year, with a 2% increase in the same store sales throughout the year.

Wholesale outlets of 270 wholesale and tourist retail outlets, third department stores, and department stores and high-end boutiques, outlets, totaled 478 million euros, up 10.2% over the same period. The outstanding performance of tourism retail business is worth mentioning.

Authorized income fell by 12.6% to 9 million 352 thousand euros.

This year, the group plans to add 10 new airport outlets to retail outlets, including Dubai and Helsinki.

In addition, new retail outlets will be located in cities like Copenhagen, Berlin and New York, but Michele Norsa did not reveal the number of new store targets throughout the year.

Salvatore Ferragamo SpA (SFER.MI) opened 3.4% on Friday and opened at 39.50 euros.

When the deadline was not available, the increase narrowed to 1.37%, which was 28.91 euros.