Turin, July 28, 2023. The Board of Directors of BasicNet S.p.A. has approved the H1 2023 consolidated results:

• aggregate sales of Group brands products of Euro 558.3 million worldwide, as follows:

  • commercial licensees and direct sales: Euro 396.2 million (Euro 393.5 million in H1 2022, +0.7%);
  • productive licensees sales: Euro 162.1 million (Euro 174.3 million in H1 2022, -7.0%). 

Commercial licensees and direct sales growth confirmed in Europe (+12.5%), which accounts for approx. 70.6% of aggregate sales, while reducing in the other regions (Americas -25.4%, Asia and Oceania -17.4%, Middle East and Africa -14.2%), due to a contraction in some markets which saw extraordinary growth in the preceding period;

• consolidated revenues of Euro 180.0 million (Euro 162.3 million in H1 2022, +10.9%), which include:

  • royalties from commercial and productive licensees of Euro 32.7 million (Euro 34.9 million in H1 2022, -6.4%);

  • direct sales of Euro 146.6 million (Euro 127 million in 2022, +15.5%).

Direct sales grew on the same period of the previous year, partly due to the contribution of K-Way France S.a.s, acquired in April 2022. On the other hand, the corresponding royalties from the French subsidiary decreased;

• EBITDA: Euro 22.6 million (Euro 22.4 million in H1 2022, +0.9%);

• EBIT: Euro 14.5 million (Euro 15.5 million in H1 2022, -6.3%);

• net profit: Euro 7.4 million (Euro 10.7 million in H1 2022);

• net financial position: Euro -138.3 million (Euro -141.7 million at December 31, 2022 and Euro -119.3 million at June 30, 2022). Dividends of Euro 8.4 million were distributed in H1 2023 and treasury shares acquired for Euro 1.2 million.

Outlook

On the basis of the order portfolio and forecast royalties and sourcing commissions, consolidated revenues are expected to confirm the growth in the current financial year.  The results from operations however remain contingent on the evolving global general economic and geopolitical environment.

The Chief Executive Officer Federico Trono will present the H1 2023 results during a video conference to be held today, in English at 6PM.

 

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The presentation may be downloaded from the website www.BasicNet.com, from the section: “Financial information/Other information and presentations� shortly before the video conference, at the following link:

http://www.basicnet.com/contenuti/datifinanziari/informazioniannuali.asp?menuSelectedID=3g

 

In relation to the “alternative performance measures�, as defined by the ESMA/2015/1415 guidelines, we provide below a definition of the measures used in this press release:

The Executive Officer for Financial Reporting, Ms. Paola Bruschi, declares in accordance with Article 154-bis, paragraph 2, of the Consolidated Finance Act that the accounting information contained in the present press release corresponds to the underlying accounting documents, records and accounting entries.

Click on Attachment for the Financial Statements.