OTB group turnover and profit jump
OTB turnover for the year to December 31, 2021 reached 1,530 million euros, up 16.2 percent from 2020 and in line with 2019. Net sales were 1,456 million euros, an increase of 18 percent from 2020 driven by the luxury business Marni, Maison Margiela, Jil Sander and Viktor&Rolf.
The company’s EBITDA was 354 million euros for a 24.3 percent return on net sales, EBIT was 187 million euros for a 12.8 percent return on net sales and net profit reached 142 million euros, up by 141 million euros from 2020 and by 140 million euros from 2019. .
“2021 was a richly satisfying year during which we reached – and in some cases beat – all our targets in particularly challenging economic and social conditions. As a result of the work of the last few years, the group is in a stronger position to take the next steps in its ambitious strategic plan from now to 2024,” said OTB CEO Ubaldo Minelli in a release.
The company said, 2021 was a year of important growth marking a turning point for the entire OTB group, which returned to pre-pandemic turnover levels and reported significant improvements in earnings and margins.
Among the geographical regions, the best performance was reported in the Asia Pacific area and in North America, while the online distribution channel consolidated its position within the group. Group EBITDA was 258 million euros, up 47 percent from 2020 and 36 percent from 2019. Group EBIT reached 94 million euros, an increase of 80 million euros from 2020 and 76 million euros from 2019.
All the brands in the OTB luxury business reported growth with respect to both 2020 and 2019, outperforming the pre-pandemic levels with improvements of 49 percent from 2020 and 55 percent from 2019. Turnover rose 25 percent from 2020 at Maison Margiela, which achieved progress in all regions and channels, confirming the upward trend that had already begun in 2019, for overall growth of 107 percent over the three years 2019-2021.
Key events in 2021 included the closing of the acquisition of 100 percent of Jil Sander in April.
The company added that there was a focus on investment in the group's direct channels in 2021, with the opening of 38 new stores and the strengthening of the e-commerce channel.