BasicNet, the owner of Kappa, K-Way and other brands, posted aggregate sales of €1,025 million, representing a 17.1 percent increase as compared to 2018, based on preliminary figures. The figure includes €742.9 million from commercial licenses and €282.4 from production licenses. The operating result before amortization and depreciation (Ebitda) of €42.5 million was up by 28.7 percent.
Consolidated revenues of €305.7 million marked an increase by 45.3 percent over 2018. This growth was supported by the inclusion as of January 2019 of Kappa Europe, the new holding company for a group of Kappa brand licensees for the U.K., France, Switzerland, Spain and Portugal. The acquisition added €77.6 million to direct sales growth, while also resulting in the elimination of royalties of €6.8 million on revenues generated by Kappa Europe.
With regard to the Chinese health crisis, the company said that it is monitoring it closely, although the Chinese market has become marginal for the group after the sale of the Kappa brand in China. Also, the company noted that the impact of the crisis is cushioned by the group’s business model, which diversifies production by geographic area.
BasicNet, headquartered in Turin and publicly quoted on the Italian Stock Exchange, has a portfolio of brands in leisurewear and sportswear, footwear and accessories with registered trademarks including Kappa, Robe di Kappa, Jesus Jeans, K-Way, Superga, Sabelt, Briko and Sebago.
