BasicNet, the Italian parent of Kappa, Robe di Kappa, K-Way, Superga, Sebago and other brands, said that in the first nine months of 2023, consolidated revenues rose by 5.3 percent year-on-year to €297.5 million, while aggregate group brands revenues slipped by 7.6 percent to €858.4 million. Meanwhile, Ebitda increased by 1.3 percent to €44.7 million, and Ebit dropped by 3.3 percent to €32.2 million.
Net debt widened to €168.3 million as of Sept. 30 from €141.7 million at the end of 2022 after the acquisition of the rights for the Sebago and Kappa brands in Japan, an investment in real estate and the remaining earnout for the acquisition of 100 percent of the share capital of K-Way France.
“On the basis of the order portfolio and forecast royalties and sourcing commissions, consolidated revenues are expected to confirm the growth at year-end, thanks also to the ongoing retail component development. The results from operations, however, remain contingent on the evolving global general economic and geopolitical environment,” the company said.
