BasicNet, the Italian parent for the Kappa, K-Way, Superga and Sebago brands, has reported preliminary results for 2022. Final results are due for release on March 9. Group brands’ aggregate sales rose 34.1 percent year-over-year to €1.27 billion in 2022. Commercial licensee and direct aggregate sales grew by 27 percent to €902 million from €706 million. European revenues accounted for about 68 percent of the total, an implied €613.4 million, and rose by 26.9 percent year-over-year.
Elsewhere, annual sales in the Americas were up 18.6 percent; increased by 40.4 percent in Asia/Oceania, where implied revenues were €72.2m; and sales lifted 29.9 percent higher in the Middle East / Africa. Licensee aggregate sales rose by 54.8 percent in 2022 to €371.1 million.
Annual consolidated revenues increased by 30 percent in 2022 to €386.1 million, including a direct sales gain of 29.4 percent to €312.7 million and 32 percent increase in royalties from commercial and licensees to €72.3 million.
For the full year, BasicNet reported an EBITDA increase of 37.7 percent to €60.9 million from €44.2 million. EBIT surged 45.8 percent to €46.1 million from 31.6 million. During 2022, the group acquired K-Way France for €36.9 million and invested €9.9 million in real estate.
The company’s year-end net financial position, consisting of current and medium/long-term payable minus cash and other financial assets, stood at negative €141.5 million versus negative €61.7 million at FY21 end.
