Aeffe returns to net profit of 35.2 million euros in nine months

The Aeffe Group achieved positive EBITDA for the nine month period at 90.9 million euros with a margin of 43.8 percent on turnover, EBIT was positive for 66.6 million euros with an increase of 78.3 million and net profit amounted to 35.2 million euros compared to a net loss of 17.8 million in 2023.

However, revenues of 207.8 million euros were down 17.8 percent at current exchange and 17.6 percent at constant exchange rates.

Commenting on the trading results, Massimo Ferretti, executive chairman of Aeffe Spa, said: “The slowdown in global consumption in the fashion and luxury sectors had an impact on the performance of our group in the first nine months of 2024.”

Aeffe’s revenue fall across retail channels and markets

Revenues of the prêt-à-porter division amounted to 139.9 million euros, a decrease of 17.5 percent at current exchange and 17.2 percent at constant exchange rates.

The footwear and leather goods division revenues amounted to 86.7 million euros, a decrease by 22.6 percent at constant and current exchange rates.

The company’s sales in Italy reported a decrease by 17.1 percent to 89.5 million euros and the wholesale channel recorded a contraction of 23 percent, while the retail channel decreased by 7 percent. Sales in Europe reported a decrease by 18.4 percent at 63.6 million euros.

In Asia and in the rest of the world, the group achieved revenues of 42.8 million euros, down by 18.5 percent. At constant exchange rates, sales in America recorded a decrease by 15.1 percent.

The revenues of the wholesale channel recorded a decrease by 20.3 percent at constant exchange rates, revenues of the retail channel showed a decrease by 12.3 percent, while revenues for royalties decreased by 7.4 percent compared to the same period of 2023.