BasicNet, the Italian parent for the Kappa, K-Way and Superga brands, generated a 31 percent increase in Ebitda to €44.1 million from €33.6 million for the nine months ended Sep. 30. Ebit increased 37 percent to €33.3 million over the period. A 30 percent improvement in consolidated revenues to €282.6 million from €216.9 million included a 29 percent gain in direct sales to €228.2 million and a 34 percent jump in royalties to €53.7 million.
Aggregate group revenues for the nine months rose 34 percent to €929.4 million, including a 26 percent increase in commercial licensee and direct sales to €649.9 million and a 59% gain in productive licensee sales to €279.5 million. Europe revenues rose 17 percent to an implied €416.6 million or 64.1 percent of aggregate sales. Elsewhere, sales in the Americas rose 35 percent over the period, with Asia/Oceania sales increasing 64 percent to an implied €55.2 million.
Meanwhile, BasicNet, citing a need to mitigate the effects of the rising cost of living, is providing a one-time bonus to staffers equivalent to one month’s salary.
