SALVATORE FERRAGAMO S.P.A. The Asia Pacific area is confirmed as the Group's top market in terms of Revenues1, representing 36% of total in FY 2015, up by 4%. In 4Q 2015 the growth was over 8%, despite the hard comparison base (+11%in 4Q 2014) and the deterioration of the business in Hong Kong. The retail channel in China in FY 2015 recorded a 10% growth compared to the same period in 2014, and
+10% in 4Q 2015 (+1% at constant exchange rates). The trend showed an improvement vs. 3Q 2015 (-3%reported and -7% at constant exchange rates), despite Revenues1already up by 23% at constant exchange ratesin 4Q 2014.
1 Preliminary/ Non-Audited Revenues drafted according to IAS/ IFRSInternational Accounting Principles.
2 Revenues at constant exchange rates are calculated by applying to the Revenues of the full-year 2014, not including the hedging effect , the average exchange rate of the full-year 2015.
The Japanese market showed an increase in Revenues4of 14% in FY2015 (+18% in 4Q 2015), also thanks to the significant travel flow from China. At constant exchange rates the growth was 15%in FY2015 and 13%in 4Q 2015.
Revenues4in Central and South America showed solid results with an increase of 12% in FY 2015
(+4%in 4Q 2015). At constant exchange rates the growth was 8%in FY2015 and 3%in 4Q 2015.As of 31 December 2015, the Salvatore Ferragamo Group's Retail network could count on 391 Directly Operated Stores (DOS), while the Wholesale and Travel Retail channel included 271 Third Party Operated Stores(TPOS), as well as presence in major Department Stores and high-end multi-brand Specialty Stores.
In FY 2015 the Retail distribution channel posted Consolidated Revenues4up by 7% (+7% in 4Q 2015) compared to the same period in 2014. At constant exchange rates the growth was 1% both in FY 2015 and 4Q 2015, with a performance at constant exchange ratesand perimeter (like-for- like) of -3%(-4%in 4Q 2015).
The Wholesale channel delivered in FY 2015 a growth of over 7%(+12% in 4Q 2015), also thanks to the good performance of the Travel Retail channel.
Among the product categories it is especially worth underlining the increase of handbags and leather accessories, that posted a growth of 12% in FY2015 and 14% in 4Q 2015. In 4Q 2015 also fragrancesand licensesregistered a solid performance (+18%and +44%respectively).
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4 Preliminary/ Non-Audited Revenues drafted according to IAS/ IFRSInternational Accounting Principles.
The manager mandated to draft the corporate accounting documents, Marco Fortini, pursuant to article 154-bis, paragraph 2, of Legislative Decree no. 58/ 1998 (Consolidated Financial Law), hereby declares that the information contained in this Press Release faithfully represents the content of documents, financial booksand accounting records.
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Salvatore Ferragamo S.p.A. is the parent Company of the Salvatore Ferragamo Group, one of the world's leaders in the luxury industry and whose origins date back to 1927.
The Group is active in the creation, production and sale of shoes, leather goods, apparel, silk products and other accessories, along with women's and men's fragrances. The Group's product offer also includes eyewear and watches, manufactured by licensees.
The uniqueness and exclusivity of our creations, along with the perfect blend of style, creativity and innovation enriched by the quality and superior craftsmanship of the 'Made in Italy' tradition, have always been the hallmarks of the Group's products.
With approximately 4,000 employees and a network over 660 mono-brand stores as of 31 December 2015, the Ferragamo Group operates in Italy and worldwide through companies that allow it to be a leader in the European, American and Asian markets.
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For further information:
Salvatore Ferragamo S.p.A.
Paola Pecciarini
Group Investor Relations
Tel. (+39) 055 3562230
investor.relations@ferragamo.com
Image Building
Giuliana Paoletti, Mara Baldessari, Alfredo Mele Media Relations
Tel. (+39) 02 89011300
ferragamo@imagebuilding.it
This Press Release is also available on the website ht t p:/ / group.ferragamo.com, in the section
Investor Relations/ Financial Press Releases .
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Pr e 2 0 1 5
% w e ight
on tot 2 0 1 5 2 0 1 4
% w e ight on tot 2 0 1 4
2 0 1 5 v s
2 0 1 4 %
Constant Rates
2 0 1 5 v s
2 0 1 4 %
E u r o / 0 0 0
Europe | 380.649 | 26,6% | 354.816 | 26,6% | 7,3% | 6,0% |
North America | 333.765 | 23,3% | 304.828 | 22,9% | 9,5% | -1,6% |
Japan | 127.281 | 8,9% | 111.495 | 8,4% | 14,2% | 15,0% |
Asia Pacific | 515.950 | 36,1% | 496.013 | 37,2% | 4,0% | -3,3% |
Latin America | 72.413 | 5,1% | 64.670 | 4,9% | 12,0% | 8,5% |
Tot a l | 1 . 4 3 0 .0 5 8 | 1 0 0 ,0 % | 1 . 3 3 1 .8 2 2 | 1 0 0 , 0 % | 7 , 4 % | 1 ,3 % |
Pr e 2 0 1 5
% w e ight
on tot 2 0 1 5 2 0 1 4
% w e ight on tot 2 0 1 4
2 0 1 5 v s
2 0 1 4 %
Constant Rates
2 0 1 5 v s
2 0 1 4 %
E u r o / 0 0 0
Retail | 892.054 | 62,4% | 833.101 | 62,6% | 7,1% | 1,2% |
Wholesale | 513.588 | 35,9% | 478.425 | 35,9% | 7,3% | 1,3% |
Licences | 11.540 | 0,8% | 9.375 | 0,7% | 23,1% | 23,1% |
Rental income | 12.876 | 0,9% | 10.921 | 0,8% | 17,9% | -1,5% |
Tot a l | 1 . 4 3 0 .0 5 8 | 1 0 0 ,0 % | 1 . 3 3 1 .8 2 2 | 1 0 0 , 0 % | 7 , 4 % | 1 ,3 % |
6 Preliminary/ Non-Audited Revenues drafted according to IAS/ IFRSInternational Accounting Principles.
Salvatore Ferragamo S.p.A. issued this content on 28 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 January 2016 16:58:05 UTC
Original Document: http://group.ferragamo.com/wps/wcm/connect/eb652a24-8239-4e85-a424-f9dc2506b25c/2016+01+28+Press+Release+4Q+2015+Preliminary.pdf?MOD=AJPERES&ContentCache=NONE&CACHEID=eb652a24-8239-4e85-a424-f9dc2506b25c
