BasicNet, the parent company of Kappa, Superga, Sebago, K-Way, Briko and other brands, has reported aggregated wholesale-equivalent sales of group products of €443 million in the first half of 2021, representing a 20.5 percent increase as compared to the same period last year. The figure includes commercial licensees’ sales of €334 million and production licensing fees of €109.1 million, up by 28.6 percent and 1 percent versus the first half of 2020, respectively. The net profit of €4.1 million for the period compares with a loss of €5.5 million in the first half of 2020. Earnings before interest, tax, depreciation and amortization (Ebitda) were €14.5 million, up from €0.8 million in the first half of 2020.
Commercial licensees’ sales saw a significant upturn. Europe, which accounts for more than 69 percent of aggregated sales, posted 30.8 percent sales growth, despite ongoing government restrictions to limit the spread of Covid-19 during the first half of 2021. Sales in Europe were also 3.7 percent higher as compared to the first half of 2019, which had been marked by record sales. In the Americas, sales jumped by 57.3 percent in the first half of 2021. Sales in the Middle East and Africa rose by 64.2 percent. Asia and Oceania, which represents 7 percent of aggregated sales, reported a decline of 29.9 percent as compared to the prior year’s first half, mainly due to the replacement of a licensee.
Consolidated revenues of €128.5 million were up by 17.7 percent versus the first half of 2020. The figure includes royalties from commercial and production licensees of €25.8 million, up by 15.5 percent, and direct sales of €102.6 million, representing an 18.3 percent increase from the first half of 2020.
The company expects a positive development also in the second part of the year, depending on the unfolding of the Covid-19 crisis.
Meanwhile, an extraordinary shareholders’ meeting on July 29 approved amendments to the by-laws of BasicNet that introduce a mechanism for increasing voting rights. It gives two votes for each ordinary share held by the same shareholder of the company for a continuous period of at least 24 months. The introduction of this mechanism is meant to incentivize medium/long-term investments and support the long-term growth and development of the BasicNet Group, the company explained.
The BasicNet group is actively taking part in the fight against the Covid-19 pandemic. Its Basic Village in Turin, which hosts the Italian group’s headquarters, has been also hosting since April 27 the “Humanitas Gradenigo” vaccination center. The facility, which administers an average of 800 vaccines per day, is also available to the company’s staff and families.
