Casa Damiani : Damiani Spa: The Board of Directors has approved the consolidated interim financial report to 30 September 2015

Damiani Spa: The Board of Directors has approved the consolidated interim financial report to 30 September 2015

Consolidated revenue at Euro 68.7 million (+10.7%)

Milan 27 November 2015. Today, the Board of Directors of Damiani S.p.A., parent company of the Damiani group active in the creation, design and distribution of fine jewelry and design in Italy and abroad, approved the Consolidated Interim Financial Report to 30 September 2015, relating to the first half-year (April-September 2015) of the 2015/2016 financial year.

During the first half of the 2015/2016 financial year, the group achieved revenues from sales and services of Euro 68.7 million, a rise of 10.7% compared to Euro 62.1 million recorded in the same period of the previous financial year.
The growth in direct sales of the Damiani brand continued in both single-brand and multi-brand shops (overall, the growth in revenues was 25% at the current exchange rate). This performance confirms the positive trend that has continued for more than five years and which supports the strategic choices of the Group to invest in the development of its own direct distribution network to increase the visibility and awareness of the brand and to be closer to the end customer. As an effect of this trend, the weight of retail revenues exceeded 50% of the total for the first time.

At 30 September 2015, the Group managed 55 direct points of sale and 20 franchised ones in the leading luxury centres in Italy and abroad.

Distribution of revenues by channel

OPERATING EARNINGS AND NET PROFIT

The operating performance, which also benefited the non-recurring items (key money) in the first half of the 2015/2016 financial year, resulted in a consolidated EBITDA of Euro 15.7 million for the Damiani group and a consolidated operating income of Euro 10.5 million.

The consolidated net result for the group in the first half of the 2015/2016 financial year was positive for Euro 5.2 million.

NET DEBT

At 30 September 2015, the Group had a Net Debt of Euro 46.0 million compared to Euro 50.9 million at 31 March 2015.

IMPORTANT EVENTS OCCURRING DURING THE HALF-YEAR

In April, Silvia Damiani, Deputy Chairwoman of the group, was appointed Businesswoman of the Year 2015 by the Femmes Chefs d'Entreprises Mondiales (FCEM). The FCEM is the most important association for business and entrepreneurship that unites women company owners all over the world.

Also in April, Damiani received the Premio Qualità Italia (Italy Quality Prize) at the Quirinale from Sergio Mattarella, President of the Republic.

In June it was completed the transaction for the sale of a lease that has generated a net income for the Group of around 12 million euro.

In June, an agreement was signed between Damiani and HRD Antwerp, the leading European authority on the certification of diamonds, in the presence of the Belgian government at the Belgium Hall of Expo Milan.

Again June, Damiani received the Ambrogio Lorenzetti award for the governance of companies in relation to the listed company sector at the Politecnico di Milano (Milan Institute of Technology).

Once more in June, the exhibition 'Valenza e l'arte del gioiello: Damiani e la tradizione orafa' (Valenza and the art of jewelry - Damiani and the goldsmith's tradition) was inaugurated in Valenza with Vittorio Sgarbi, the well-known art critic and curator of the project. The exhibition, in which Damiani displayed its masterpieces that have marked the successes of more than 90 years of history, stayed open to the public until the end of August. It was held in the fascinating Art Nouveau spaces of Villa Scalcabarozzi in the Piedmontese town that is the cradle of the best goldsmith tradition, recognised internationally.

For the second successive year, Damiani was the main sponsor of the 72nd Italian Open Golf Tournament. The greatest national golf event was held in the splendid scenario of the Golf Club Milano, inside Monza Park, from Thursday 17 to Sunday 20 September. A record number of people watched the event.

The new openings in the half-year were as following:

In May, the new multi-brand Rocca 1794 boutique was inaugurated, completely renovated and modernised in the displays, in the very central Piazza Duomo, Milan.

Also in May, a new Damiani single-brand boutique was inaugurated at Beijing international airport. The sales point, in franchising, forms a full part of the group expansion strategy in the retail travel sector which is progressively growing in the world luxury market.

At the end of June, Damiani inaugurated a sales point in Hong Kong, in the prestigious Landmark department store.

In July, the new multi-brand Rocca 1794 boutique was inaugurated in Terminal 1 of Milan-Malpensa international airport.

In August, the new Damiani boutique in Tokyo was inaugurated in the very central and exclusive Chuo-dori, in the Ginza area. The flagship store is in a 9-floor building used entirely by the group which has transferred the offices of the Japanese branch there. Japan is the group's main overseas market and there are already 11 direct shops in the best department stores of the country; local customers have valued our Made in Italy products for years.

Once again in August, a new directly managed Damiani boutique was inaugurated in the prestigious Pangyo Hyundai department store, in Seongnam, South Korea. This point of sale adds to the other three already in the country which the group has recently entered, an immediate success, acclaimed by the local clientele.
In September, the second Damiani boutique in Taipei was inaugurated at the 101Mall, in one of the tallest skyscrapers in the world in the financial and commercial centre of Taiwan, where other leading international luxury brands are also present.

IMPORTANT EVENTS OCCURRING AFTER THE CLOSURE OF THE HALF-YEAR

The openings occurring after the closure of the half-year are indicated below:

In November, the first Damiani boutique in Mexico City was inaugurated in Palacio de Hierro, the most important and largest luxury department store in the Polanco residential area of the Mexican metropolis.

At the end of November, a multi-brand Rocca 1794 point of sale was inaugurated at the international airport of Bergamo, Orio al Serio, the third airport of Milan.