The parent company of Kappa, Robe di Kappa, K-Way, Superga, Sebago and other brands reported a net profit of €11.2 million against earnings of €65.7 million for the 12 months ended Dec. 31, including a €60.9 million contribution from K-Way in the year-ago period. Annual Ebitda rose 38 percent to €60.9 million from €44.2 million, with Ebit improving by 46 percent to €46.1 million from €31.6 million.
Consolidated revenues rose by 30 percent to €386.1 million from €296.4 million, with direct sales increasing by 29 percent to €312.7 million. Royalties from commercial and productive licensees gained 32 percent to €72.3 million. Gross margin slipped by 85 basis points to 39.71 percent from 40.56 percent.
Aggregated licensee sales improved by 34 percent year-over-year to €1.27 billion.
During FY22, BasicNet acquired all the shares of K-Way France for €36.9 million and spent €9.9 million on real estate. The group ended the period with a net financial position of negative €141.7 million versus -€61.7 million in Dec. 2021.
