BasicNet’s group net income was €10.7 million against €4.1 million for the first half ended June 30. Ebit improved 82 percent to €15.5 million from €8.5 million in the year-ago period. Aggregate H1 group revenues rose by 28.2 percent to €567.9 million, with commercial licensee sales increasing 17.8 percent to €393.5 million and other licensee sales rising 59.9 percent to €174.3 million for the six months. Europe accounted for 63.1 percent of aggregate sales, or an implied €358.3 million. Elsewhere, sales increased by 51 percent in Asia/Oceania to €50.5 million and 37.7 percent in the Americas to an unspecified total. Royalty revenues from commercial and other licensees rose by 35 percent to €34.9 million as direct sales increased by 23.7 percent to €127.0 million.
BasicNet is currently forecasting consolidated revenue growth for the financial year but warned that numerous factors ranging from global economic developments to impacts from higher raw material costs and currency fluctuations could impact results.
As previously announced, the group is moving ahead with a re-organization of Kappa that commenced with the acquisition and integration of the Kappa Europe Group into the group business and subsequent acquisition of the Kappa brand for Japan. The transaction, treated as a merger, will not change BasicNet’s ownership or equity structure. The company said it should be completed by the end of 2022 and will enable a closer focus on individual brands.
