BasicNet, 9M 2020: business model enables positive operating and financial results; Group continues to invest
The Board of Directors of BasicNet approved the 9M 2020 consolidated results on Thursday, October 29th. Group brands’ aggregate sales totaled more than 608 million euros, with a partial recovery on the main markets – compared to the first six months of the year – of the impact on sales caused by anti-Covid measures. Consolidated revenues of 196.5 million: 33.2 as royalties; 163.3 as direct sales. Ebitda 16.1 million euros; Ebit 7.4; net debt: 80.1 million, down on 93.3 on September 30th, 2019. Three investments were completed in 2020: the acquisition of Kappa Europe, Kappa Japan, and the BasicVillage in Milan. Click here for the press release and click here for the BreakingNews.