5/4/15 Marni, Margiela Parent OTB Sees Strong Profits | wwd.com/business-news/financial/marni-margiela-parent-otb-sees-strong-profits-10120306/ 1/4 SECTIONS 05.04.2015 CAREERS CLASSIFIEDS Welcome ANTONELLA ACCOUNT LOG OUT FINANCIAL GOVERNMENT / TRADE MERGERS / ACQUISITIONS LEGAL FORECASTS / ANALYSIS STOCK TRACKER MARKETING / PROMOTION HUMAN RESOURCES BUSINESS FEATURES TECHNOLOGY REAL ESTATE BUSINESS wwd business news financial April 30, 2015 By Luisa Zargani PRINT A- A A+ FINANCIAL NACDS: Mass Beauty Retailers Search for Opportunities Amid Turmoil FINANCIAL Children’s Place Proxy Fight With Activists Heating Up FINANCIAL VF Pushing Wrangler, Lee MORE ARTICLES BY Luisa Zargani LATEST FINANCIAL ARTICLES Marni RTW Fall 2015 Giovanni Giannoni email facebook tw itter google + Marni, Margiela Parent OTB Sees Strong Profits MILAN — Italian fashion group OTB saw higher profits and sales last year even as it focused on integrating Marni, developing Diesel through the work of artistic director Nicola Formichetti and naming John Galliano to helm Maison Margiela. In the year ended Dec. 31, the Italian fashion group reported net profits grew almost fourfold to 5.5 million euros, or $7.3 million, compared with 1.2 million euros, or $1.6 million, in 2013. Earnings before interest, taxes, depreciation and amortization dropped 15 percent to 117.4 million euros, or $156.1 million, compared with 138 million euros, or $182.1 million, due to currency fluctuations. Revenues in 2014 were in line with 2013, closing at 1.56 billion euros, or $2 billion, compared with 1.57 billion euros, or $2.07 billion, the previous year. RELATED CONTENT: WWD Earnings Tracker >> Dollar figures were converted from the euro at average exchange rates for the periods they refer to. “A large part of the drop in EBITDA is to be attributed to the exchange rates last year compared with 2013,” chief executive officer Riccardo Stilli told WWD. He cited the yen, in particular. “Japan, which accounts for almost 20 percent of our sales, has always played a big role and continues to do so,” he said. LATEST ISSUE VIEW/ DOWNLOAD CFDA, COVET FASHION IN STYLING APP GAME MORE LATESTBUSINESS ARTICLES JUST IN
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5/4/15 Marni, Margiela Parent OTB Sees Strong Profits |