Aeffe's 2023 loss widens to 32.1 million euros

Aeffe revenues in 2023 equaled 319 million euro, a decrease of 9 percent at constant exchange and 9.5 percent at current exchange rates.

The company adjusted EBITDA declined to 12.4 million euros and adjusted EBIT was negative 20.5 million euros. Net loss widened to 32.1 million euros compared with 9 million in 2022.

Commenting on the trading results, Massimo Ferretti, executive chairman of Aeffe Spa, said in a release: “2023 was a year of transition for our group. The results we are presenting today, expected but not positive, are clearly the result of these transformations and the strong investments of recent years which will bring positive effects as early as 2024.”

The company’s revenue of the prêt-à-porter division amounted to 212.4 million euros, down 7.6 percent at constant exchange and 8.4 percent at current exchange rates compared to 2022. Revenues of the footwear and leather goods division amounted to 142.1 million euros, a decrease by 13.1 percent, both at constant and current exchange rates, compared to 2022.

Sales in Italy, representing 42 percent of turnover, decreased by 7.3 percent to 134 million euros, sales in Europe reported a decrease of 16.3 percent to 98.6 million euros. In Asia and in the rest of the world, the Group achieved revenues of 66.8 million euros, up by 4.9 percent compared to 2022. Sales in America recorded a decrease of 20 percent.

Revenues of the wholesale channel recorded a decrease of 13.9 percent at constant exchange rates and revenues of the retail channel showed an increase of 9 percent at constant exchange rates compared to the previous year. Royalties incomes decreased by 33.7 percent following the termination of some licences for the Moschino brand.