BasicNet, the parent company of Kappa, K-Way and other brands, said in a preliminary statement that its net profit for 2013 surged to €8.4 million as compared to €1.6 million in 2012. Earnings before interest, taxes, depreciation, and amortization (Ebitda) were €22.8 million, representing a 91.2 percent increase. Adjusted operating income before interest (Ebit) grew by 144 percent to €12.2 million.
Aggregate sales for all the brands of the Italian group were €435 million and were basically unchanged at constant exchange rates. The best sales performance came from the American market, up 22 percent, and from the Middle East and Africa, both up 12 percent. Europe grew by 2 percent in the second part of 2013, offsetting the sales drop in the first part of the year.
Consolidated direct sales on the domestic Italian market grew by 1.5 percent to €111.7 million, with a 15.2 percent increase in the fourth quarter alone, with the gross margin rising to 38.2 percent from 36 percent. Royalties declined slightly to €42 million because of changes in exchange rates.
BasicNet's brands include Kappa, Robe di Kappa, K-Way, Jesus, Superga, Anzi Besson and Sabelt.
