Stone Island consolidated from 01/04/2021. IFRS 16 impacts included from 2019. The net financial position excludes lease liabilities.
Financial Highlights
Income Statement
| EUR m | 2024 | 2023 | 2022 |
|---|---|---|---|
| REVENUES | 3,108.9 | 2,984.2 | 2,602.9 |
| YoY Performance | +4% | +15% | +27% |
| GROSS PROFIT | 2,426.6 | 2,300.8 | 1,987.8 |
| Selling | (937.3) | (868.1) | (757.4) |
| G&A | (351.7) | (331.2) | (284.0) |
| Marketing | (221.2) | (207.7) | (171.9) |
| EBIT | 916.3 | 893.8 | 774.5 |
| Net financial income / (expenses) | (6.5) | (23.2) | (27.2) |
| EBT | 909.8 | 870.6 | 747.3 |
| Taxes | (270.2) | (258.7) | (140.6) |
| Tax rate | 29.7% | 29.7% | 18.8% |
| GROUP NET RESULT | 639.6 | 611.9 | 606.7 |
Balance Sheet
| EUR (000) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Brands | 999,354 | 999,354 | 999,354 |
| Goodwill | 603,417 | 603,417 | 603,417 |
| Fixed assets | 510,136 | 442,098 | 388,325 |
| Right-of-use assets | 848,173 | 737,501 | 773,517 |
| Net working capital | 255,548 | 240,200 | 191,674 |
| Other assets / (liabilities) | 20,076 | 3,177 | 4,470 |
| INVESTED CAPITAL | 3,236,704 | 3,025,747 | 2,960,757 |
| Net debt / (net cash) | (1,308,751) | (1,033,693) | (818,223) |
| Lease liabilities | 924,077 | 805,177 | 837,397 |
| Pension and other provisions | 34,710 | 39,834 | 39,297 |
| Shareholder's equity | 3,586,668 | 3,214,429 | 2,902,286 |
| TOTAL SOURCES | 3,236,704 | 3,025,747 | 2,960,757 |
Cash Flow Statement
| EUR (000) | 2024 | 2023 | 2022 |
|---|---|---|---|
| EBIT | 916,324 | 893,839 | 774,547 |
| D&A | 120,666 | 114,170 | 105,644 |
| Other non current-assets / (liabilities) | 16,045 | 15,333 | 14,570 |
| Change in net working capital | (15,348) | (48,526) | (42,832) |
| Change in other current / non-current assests / (liabilities) | (18,647) | 3,694 | (212,342) |
| Net capex | (186,675) | (174,068) | (167,099) |
| OPERATING CASH FLOW | 832,365 | 804,442 | 472,488 |
| Net financial result | 24,916 | 5,788 | (3,977) |
| Taxes | (269,791) | (260,791) | (140,786) |
| FREE CASH FLOW | 587,490 | 549,439 | 327,725 |
| Dividends paid | (311,014) | (303,443) | (160,960) |
| Stone island transaction | (1,418) | (30,526) | (78,129) |
| Changes in equity and other changes | 275,058 | 215,470 | 88,636 |
| NET CASH FLOW | 1,033,693 | 818,223 | 729,587 |
| Net Financial Position - Beginning of Period | 1,308,751 | 1,033,693 | 818,223 |
| Net Financial Position - End of Period | 275,058 | 215,470 | 88,636 |
| CHANGE IN NET FINANCIAL POSITION |
31/12/2024
Asia | 56 |
|---|---|
EMEA | 27 |
Americas | 7 |
RETAIL | 90 |
WHOLESALE | 9 |
31/12/2023
Asia | 48 |
|---|---|
EMEA | 26 |
Americas | 7 |
RETAIL | 81 |
WHOLESALE | 15 |
31/12/2024
Asia | 143 |
|---|---|
EMEA | 96 |
Americas | 47 |
RETAIL | 286 |
WHOLESALE | 56 |
31/12/2023
Asia | 132 |
|---|---|
EMEA | 95 |
Americas | 45 |
RETAIL | 272 |
WHOLESALE | 57 |