Salvatore Ferragamo S.p.A. (MTA: SFER), parent company of the Salvatore Ferragamo Group, one of the global leaders in the luxury sector, released the Group’s Preliminary Consolidated Revenue1 figures for the fiscal year 2012, which amount to 1,153 million Euros up by 17 % vs. FY 2011.
Preliminary Consolidated Revenue1figures for FY 2012
As of 31 December 2012, the Salvatore Ferragamo Group has posted Total Revenues1 of 1,153 million Euros, a 17% increase at current exchange rates (+12% in 4Q 2012), over the 986 million Euros recorded in FY 2011, showing significant growth in all geographical areas, product lines and distribution channels. Revenue1 growth at constant exchange rates has been 13% (+11% in 4Q 2012).
The Group's excellent Revenue1 growth, following the over 26% year-on-year increase consecutively recorded in FY 2010 and FY 2011, has been supported, both by the Wholesale and Travel Retail channel strong performance and by the Retail channel organic growth (8% like-for-like increase in FY 2012 vs. FY 2011), and is further confirmation of the success of Ferragamo's strategy focusing on top quality products and on its “Made in Italy” values, meeting the expectations and demand of the global customers.
Revenues1by geographical area
The Asia Pacific area is confirmed as the Group's top market in terms of Revenues1, with a turnover of 420 million Euros (representing about 37% of total) in FY 2012, up 18% (+13% in 4Q 2012). A major contribution was given by the retail channel, which recorded a growth of over 20% compared to the same period in 2011.
Europe2 posted excellent growth figures, with an increase of 21%, compared to the same period in 2011, and +18% in4Q 2012, further confirming the positive trend already registered in the first nine months of 2012 and the Ferragamo brand ability in attracting the international tourist flows.
Excellent sales growth was recorded also in North America2, with an increase of 16% compared to the same period in 2011 (+15% in4Q 2012), almost entirely achieved on a like-for-like basis.
The Japanese market2 showed an increase in Revenues1 of 5% (-2% decrease in local currency) in FY 2012, supported by the favourable impact of the exchange rate. In 4Q 2012 the revenues variation was about -5% both at current and constant exchange rates.
Revenues1 in Central and South America2 also showed excellent results with an increase of 27% (+21% in 4Q 2012).
Revenues1by distribution channel
As of 31 December 2012, the Salvatore Ferragamo Group's Retail network can count on 338 Directly Operated Stores (DOS), while the Wholesale and Travel Retail channel includes 268 Third Party Operated Stores (TPOS), as well as presence in Department Stores and high-end multi-brand Specialty Stores.
In FY 2012 the Retail distribution channel2 posted consolidated Revenues1 of 753 million Euros, a 14% increase (+ 12% in 4Q 2012) over the 658 million Euros posted as of 31 December 2011.
The growth marked a 8% increase at constant exchange rates and perimeter (like-for-like) in FY 2012, with a 7.8% increase in 4Q 2012 vs. 4Q 2011.
The Wholesale and Travel Retail channel2 delivered an excellent performance in FY 2012 growing, from 313 million Euros in FY 2011, to 381 million Euros and marking a 22% increase (+ 11% in 4Q 2012).
Revenues1by product category
All product categories delivered a strong increase in Revenues1. Especially remarkable the increased revenues in footwear (+20%) and in handbags and leather accessories (+16%), representing around 75% of Group Total Turnover, and in fragrances (+20%).
1 Preliminary/Non-Audited Revenues drafted according to IAS/IFRS International Accounting Principles.
2 The variations in Revenues are calculated at current exchange rate, unless differently indicated.