The Damiani Group is the only one luxury company listed on the Italian Stock Exchange. As such it is required to give account of his business every three months: an exercise uncomfortable, but that provides transparency to investors. Here, then, the accounts of the company from Piedmont in the first nine months of 2014-2015 (the budget closes every 31 March). Taking into account that in Italy the consumption is falling for all, the accounts are not too bad, in fact, show signs of recovery. In the accounts at December 31, 2014, revenues were up 5% at constant exchange rates, to 115.4 million euro. The good news is the growth in sales in the retail segment (+ 6.3%), and in particular the brand Damiani (58 direct sales outlets) is what pulls more, an increase of 22%. The retail channel, accounts for about 40% of the total turnover of the group. A little ‘in contrast with the rest of the market, Damiani also shows an increase in Italy by more than 5%, while overseas the revenue totaled an increase of 3.5% at constant rates, and 2.3% in current rates compared to the same period previous year, affected mainly by the devaluation of the yen. Positive gross margin (Ebitda) is of 5.2 million euro, with an improvement of 4.9 million euro compared to 31 December 2013. But the result remains a negative, albeit reduced: the nine months closed with eur -1.4 million, which still means an improvement of 61.6% compared to a year ago. No good news also from the negative net financial position of 50.2 million euro (40.8 million euro at March 31, 2014), but “as a result of seasonality and investments made during the period.”
But there is also a major innovation at the management of the group: the board of directors, “in view of the increasing direct involvement of President Guido Grassi Damiani in the process of internationalization of the Group, whose strategy is increasingly focused at a direct presence in foreign markets, has approved the appointment to the post of ceo of Damiani spa of vice president Giorgio Grassi Damiani, with control over operational management of Italian society. “Essentially Guido Grassi Damiani will continue to make the ambassador of the group around the world, while the reins operational industrial pass to his brother George. Federico Graglia
