BasicNet said it posted “significant” growth at the end of 2021, with consolidated revenues in the fourth quarter jumping by 26.5 percent from the year-earlier period to €80.0 million, marking an improvement of over 14 percent on 2019.

BasicNet, the Italian-based parent company for brands such as Kappa, K-Way, Superga and Sebago, reported preliminary results for 2021 showing licensees’ aggregate wholesale-equivalent revenues of €257.5 million in the fourth quarter, up by 25.2 percent on the year earlier, with gains of 17.9 percent for commercial licensees and 13.1 percent for production licenses.

The group’s quarterly Ebitda widened to €10.7 million against €3.7 million in the fourth quarter of 2020 and €4.3 million in the corresponding period of 2019.

For the full year, BasicNet reported Ebitda of €44.2 million, more than double the €19.8 million level seen in 2020 and 4.0 percent higher than in 2019, driven by higher sales volumes in all geographies for the group’s direct operations despite closures at point of sales in the first quarter due to Covid restrictions and supply chain disruptions. Ebit surged to €31.7 million in 2021, more than quadruple the €7.6 million level seen in 2020 and 3.5 percent higher than in 2019.

BasicNet’s consolidated revenues for the year increased by 14.1 percent compared to the year earlier to €296.4 million, as direct sales grew by 13.0 percent to €241.6 million, bolstered by 20 percent growth in the fourth quarter. Royalties from commercial and production licenses climbed by 19.1 percent to €54.8 million.

The licensees’ aggregate revenues* for the year went up by 16.6 percent to €949.4 million, including revenues of €709.6 million by commercial licensees and €239.8 million by production licensees.

The revenues of the commercial licensees increased by 17.9 percent to €709.6 million in 2021, led by increases of 60.2 percent in the Americas and 40.5 percent in the Middle East and Africa. Europe, representing about 68 percent of all aggregate sales, saw a 17.6 percent improvement. The turnover in Asia and Oceania is still recovering from the effects of replacing a licensee, the company said. The revenues of production licensees rose by 13.1 percent to €239.8 million.

Net debt narrowed to €61.7 million at the end of 2021 from €82.2 million the year earlier and from €78.3 million as of Dec. 31, 2019.

“The improvement in profitability and the net financial position, also when compared to 2019, allows us to pursue strategic projects to sustain growth in the medium-long term,” said Federico Trono, CEO.

BasicNet is scheduled to release its final results for 2021 on March 3.

(*Note: an earlier version of our article incorrectly referred to ”aggregate wholesale-equivalent revenues” in the 6th paragraph)