BASICNET – Q1 2023: CONSOLIDATED REVENUES UP 27.7%

Turin, April 28, 2023. The Board of Directors of BasicNet S.p.A. has reviewed the Group performance for Q1 2023:

• aggregate sales of Group brands products worldwide of Euro 293.5 million, up 5.8% on Euro 277.5 million in Q1 2022, as follows:

  • commercial licensees and direct sales: Euro 220.8 million (Euro 198.8 million in Q1 2022, +11.0%) and
  • productive licensees sales of Euro 72.7 million (Euro 78.6 million in Q1 2022, -7.5%).

Strong commercial licensees sales growth confirmed in Europe (+26.3%), which accounts for approx. 72% of aggregate sales, while reducing in the other regions (Americas -23.4%, Asia and Oceania -11.4%, Middle East and Africa -8.3%), due to a contraction partly related to an unstable economic environment and however limited to only a few markets which saw extraordinary growth in the preceding period.

• consolidated revenues of Euro 108.0 million (Euro 84.6 million in Q1 2022, +27.7%), which includes:

  • royalties from commercial and productive licensees: Euro 16.3 million (Euro 17.4 million in Q1 2022, -6.4%)
  • direct sales: Euro 91.4 million (Euro 67.0 million in 2022, +36.4%).

Direct sales grew significantly 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 14.8 million (Euro 14.0 million in Q1 2022, +5.5%)

• EBIT: Euro 10.8 million, in line with Q1 2022; 

• net financial position: Euro -139.4 million (Euro -141.7 million at December 31, 2022).

 

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. Core operating results however remain contingent on the evolving global general economic and geopolitical environment.

The Chief Executive Officer Federico Trono will present the Q1 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:

 

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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, accounting records and books.