Damiani revises its gross profit in the first half of the 2014/2015 fiscal year. A note from the company highlights «a positive trend that has now lasted for five years and which demonstrates the ever-increasing appreciation of the brand by the end consumer». Revenues from the retail channel reached 44.1% of sales revenues, a further increase compared to the first half of the previous year.
During the first half of the year (which runs from March to September, given that Damiani’s financial statements close on March 31), the Piedmontese company, which this year celebrated 90 years of activity, recorded sales of 62.1 million euros, compared to the 65.0 million euros recorded in the same period of the previous year, with a negative variation of -3.8% at constant exchange rates and -4.5% at current exchange rates. On the other hand, the consolidated Ebitda (gross profit) is positive for 100 thousand euros. Not much, but still better than the negative figure of -3 million at 30 September 2013. Improvement thanks, the note continues, «to internal reorganization actions». Having said this, the consolidated operating result remains negative, even if improving: -2.2 million euros, compared to -4.6 million last year. Ultimately, in the first six months the group closed «with a negative consolidated net result of -3.4 million euros compared to -6.1 million euros achieved on 30 September 2013». Debts have also grown: the financial position is negative for 47 million euros, compared to 40.8 million recorded on 31 March. But the company says that «the change is mainly attributable to the seasonal dynamics of financial flows».
It should also be noted that in the past six months Damiani has left the Star segment of the Italian Stock Exchange. One of the reasons is also the «reduction of the free float (i.e. the shares traded on the stock exchange) below the threshold of 20% of the capital, the minimum required for presence in the Star segment and the objective of focusing the group structure on the core business». Damiani is still listed on Piazza Affari but the freely traded shares are thinning out. Added to this are particularly high volumes in recent days. Someone might wonder if, by chance, the intention is that of an upcoming farewell to the list.
Also in the semester ended in September, the company proceeded with the merger by incorporation between Damiani S.p.A. and Rocca S.p.A., «an operation aimed at ensuring greater functionality of the Group, from an economic and financial perspective, and is part of the reorganization actions already largely implemented in previous financial years».
Damiani, in any case, is very active in terms of relaunch. Last October, together with former Japanese footballer Hidetoshi Nakata, he launched the new Metropolitan Dream by H. Nakata collection with the aim of raising funds to support the Home for All project, launched in 2011 and directed by architect Toyo Ito, to help the victims of the earthquake that hit Japan in March 2011 in the reconstruction of the affected cities and to improve the daily life of the community.
