Kappa Brand Parent Basicnet2019 Sales Rose 21.6% In The First Half Of Fiscal Year.

In July 25th, BasicNet S.p.A, a sportswear and sportswear manufacturer in Italy, released its financial data in the first half of 2019. All regions performed well. The total sales volume of global business authorization and production authorization products increased by 21.6% to 484 million 800 thousand euros compared with the same period last year.

As of June 30, 2019, the key financial data for BasicNet 2019 in the first half of fiscal year are as follows:

The total sales volume of global business authorization and production authorization products increased by 21.6% to 484 million 800 thousand euros, up 17.5% from the same rate.

Consolidated sales revenue (except for direct marketing, which also includes royalties and purchase commissions) increased by 48.6% to 137 million 800 thousand euros over the same period, an increase of 47.9% over the same exchange rate.

EBITDA (profit before tax depreciation and amortization) increased by 54.5% to 20 million 300 thousand euros compared to the same period last year.

EBIT (pre tax profit) grew 43.8% to 14 million 600 thousand euros over the same period last year.

Net profit rose 60.2% to 10 million 400 thousand euros.

In the first half of 2019, markets in all regions performed well:

Europe: sales grew 18% year-on-year

Americas: sales grew 54.8% year-on-year

Middle East and Africa: sales grew 46.2% year-on-year

Asia and Oceania: sales grew 11.6% year-on-year

BasicNet expects that 2019 growth in the second half of the fiscal year will continue. In addition, BasicNet also said that after buying the majority stake of Sport Finance, the BasicNet will continue to deepen the reform and restructuring of the European market in the future.

In February of this year, BasicNet acquired BasicItalia's Sport Kappa 61% stake in the French, British and Spanish markets through its subsidiary BasicItalia, in order to consolidate Kappa brand distribution resources. Marco Boglione, founder and President of BasicNet, predicts that sales of Kappa will double in five years. "Europe is our home market and is one of the strongest growth potential markets in the medium term," he said. "Kappa has the strongest reputation and influence in Europe."

About BasicNet S.p.A

The Calzificio Torinese, founded in 1916 in Turin, Italy, was mainly engaged in the production and sale of socks at the beginning. Through the hardships of the two world wars and subsequent years of expansion, the BasicNet S.p.A finally formed.

BasicNet owns the famous sports and leisure apparel brand Kappa and Robe di Kappa, Italy national canvas shoes brand Superga, outdoor sports brand K-way, Cowboy brand Jesus Jeans, high-end footwear brand Sabelt, sports shoes sports shoes brand Lanzera, professional sportswear and equipment brand promotion and sailing shoes brand.

Among them, Sebago was BasicNet S.p.A in August 2017, through the subsidiary TOS S.r.l. from the US NYSE listed Footwear Company Wolverine World Wide, Inc. acquisition, the transaction amount of $14 million 250 thousand.