(Alliance News) - Piquadro Spa on Monday reported consolidated sales figures for the first nine months ended Dec. 31, which amounted to EUR131.5 million, up 3.7 percent from consolidated sales as of Dec. 31, when they were EUR126.8 million.

With reference to the Piquadro brand, revenues amounted to EUR58.5 million, up 9.8 percent on 2022.

With reference to The Bridge brand, revenues for the first nine months amounted to EUR25.2 million, up 9.4 percent over the same period in 2022.

Sales revenues realized by Maison Lancel in the first nine months of fiscal year 2023-2024 amounted to EUR47.7 million, a decrease of 5.4 percent compared to the same period ended December 31, 2022.

Geographically, the Piquadro group recorded in the Italian market, a turnover of EUR63.2 million, an increase of 9.8 percent compared to the same period of the previous year.

In the European market, the group recorded a turnover of EUR63.3 million, a decrease of 3.3 percent compared to the same period in fiscal 2022-2023.

In the non-European geographic area, the Piquadro group recorded a turnover of EUR4.9 million, up 32 percent compared to the same period last fiscal year and accounting for 3.7 percent of consolidated sales.

Marco Palmieri, president and CEO of the Piquadro group commented, "Growth dynamics deteriorated in the last quarter, particularly in December, across Europe. In addition, China's post-Covid recovery did not happen as hoped. It has gone

continued the restructuring of Maison Lancel, which, compared to 2019 - the first full year since the acquisition - saw sales increase by 13 percent despite the restructuring of the sales network with the closure of unprofitable boutiques and product delivery policies with

different calendars from previous years."

"Compared to the pre-covid period, the growth of the Piquadro group is solid and the earnings dynamics lead us to estimate a very positive year with record Ebitda and net income for the group."

Piquadro is flat at EUR2.22 per share.

By Claudia Cavaliere, Alliance News reporter

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