08/08/2014
Damiani S.p.A.: The BoD has approved the Interim Report at June 30, 2014 Consolidated revenues from sales at 30.8 million euros
Increase in sales of the Damiani brand in the retail channel
Positive EBITDA (+1.9 million of euros compared to 1Q2013/2014)

Valenza, 8 August, 2014 - the Board of Directors of Damiani S.p.A. (Milano, Star: DMN) the parent company of the Damiani Group, operative in the creation, production and distribution of high-end jewelry and design in Italy and abroad, today approved the Interim Report for the first quarter (April-June 2014) for the 2014/2015 financial year.

During the first quarter of the 2014/2015 financial year, the Group obtained revenues from sales and services amounting to 30.8 million euros, compared to 33.1 million euros recorded in the same period of the previous year.

Sales growth of Damiani brands continued both in monobrand and multibrand stores (an overall revenue growth of +14.6% at constant exchange rates and +12.1% at current exchange rates).

The consolidated EBITDA registered a positive sign of 1.3 million euros, with an improvement of 1.9 million euro compared to the same quarter of the previous financial year.

At June 30, 2014, the Group was managing 57 direct points of sale positioned in leading international luxury streets.

Breakdown of revenues by channel

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OPERATING INCOME AND NET PROFIT

In terms of profitability in the first quarter of the 2014/2015 financial year, the Damiani Group recorded a positive consolidated EBITDA totaling 1.3 million euros, an improvement of 1.9 million euros compared with minus 0,6 million euros recorded at June 30, 2013. The consolidated operating income marks a net improvement, equivalent to 1.2 million euros, compared to that recorded in same quarter of the 2014/2015 financial year which is approaching break-even: in fact only negative of 0,1 million euros. The Group closed the first quarter of the 2014/2015 financial year reducing half of the loss with consolidated net result of -1.0 million euros, with an improvement compared to -2.0 million euros achieved on June 30, 2013.

NET FINANCIAL DEBT

At June 30, 2014, the Group had a net debt of 41.4 million euros, essentially stable compared with 40.7 million euros at March 31, 2014.

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