TOD'S S.P.A. 
Milan - March 14th, 2016
The Board of Directors approved the draft of 2015 Annual Report
Sales revenues: 1,037 million Euros, +7.4% compared to 2014 EBITDA: 202.6 million Euros, with a 19.5% margin on sales EBIT: 148.6 million Euros
Group's net income: 92.7 million Euros
Positive net financial position: 134.2 million Euros,
Dividend: 2.00 Euro per share
Tod's S.p.A., the Italian company listed on the Milan Stock Exchange and holding of the luxury goods group of the same name operating in luxury and quality shoes, accessories and apparel with the Tod's, Hogan, Fay and Roger Vivier brands, today approved the draft of the Group's 2015 Annual Report.
Diego Della Valle, Chairman and CEO of the Group, commented as follows:
"Our Group has achieved good results, even in a not easy and volatile environment. We are pleased with the positive performance of all our brands in all regions, with the only exception of Hong Kong. With the presentation of the next Fall Winter collections, we believe to have completed the range of our products, with everything which is needed to meet the demand of our customers, both in leather goods and, above all, in shoes, as confirmed by the good start in orders' collection. We are working hard to strengthen more and more the lifestyle of the brand and its inspiration, linked to Italian style and quality of the product, which are loved by our international clientele.
We believe that this, combined with strong attention to costs, to the great enhancement of the digital and the good acceptance obtained by the summer collections now in stores, will allow us to achieve good results also this year.
Considering the Group's solid financial position, we wanted to confirm the same dividend of last year, despite the higher number of shares, due to the capital increase made in January and related to the acquisition of the Roger Vivier brand."
Comments to the Group's salesConsolidated sales were 1,037.0 million Euros in FY 2015, up 7.4% from FY 2014.
In Q4 2015, sales totalled 250.1 million Euros, up 11.4% from Q4 2014, thus showing a visible acceleration from the 9 month performance, which is even more noteworthy if considering the challenging market environment.
At reported rates, all the brands, product categories, regions (excepted Hong Kong) and distribution channels registered positive performances.
At constant exchange rates, meaning by using FY 2014 average exchange rates, including the related effects of hedging derivatives, sales would have been 983.2 million Euros (+1.8% from the previous year).
million Euros | FY 2015 | FY 2014 | % change at reported rates | % change at constant rates |
Tod's | 599.0 | 568.0 | +5.5% | - 1.0% |
Hogan | 221.4 | 212.3 | +4.2% | +2.8% |
Fay | 59.4 | 57.3 | +3.7% | +3.5% |
Roger Vivier | 156.0 | 126.9 | +22.9% | +12.2% |
Other | 1.2 | 1.0 | +16.4% | +9.6% |
TOTAL | 1,037.0 | 965.5 | +7.4% | +1.8% |
Preliminary and unaudited figures
The Tod's brand totalled 599.0 million Euros in sales in FY 2015, up 5.5% from the previous year, with an acceleration in the fourth quarter. The brand registered good results in all the regions, with the only exception of Greater China, which was slightly negative.
Positive results for all the product categories; confirmed the excellent reception from customers for the new collections of handbags.
The Hogan brand registered 221.4 million Euros as turnover, up 4.2% from FY 2014 (+9.2% in Q4). The brand registered positive results in all the regions, where it's distributed.
The Fay brand totalled 59.4 million Euros in sales, up 3.7% from FY 2014, with a visible acceleration in Q4 (+20%). Particularly positive results were obtained in "Rest of the World", where the brand is starting to expand.
Finally, Roger Vivier registered 156.0 million Euros as turnover, up 22.9% from FY 2014 (+30.8% in Q4). Very positive results were obtained on all geographical areas; the brand is continuing its selective expansion abroad, consistently with its exclusive positioning.
million Euros | FY 2015 | FY 2014 | % change at reported rates | % change at constant rates |
Shoes | 811.7 | 743.5 | +9.2% | +3.3% |
Leather goods and accessories | 157.2 | 155.6 | +1.1% | -5.1% |
Apparel | 66.9 | 65.4 | +2.3% | +1.5% |
Other | 1.2 | 1.0 | +16.9% | +10.2%. |
TOTAL | 1,037.0 | 965.5 | +7.4% | +1.8% |
Preliminary and unaudited figures
The Group confirmed its undisputed leadership in the core business of shoes. Sales of this product category totalled 811.7 million Euros in the year, up 9.2% from FY 2014 (+12.9% in Q4 2015).
Revenues of leather goods and accessories totalled 157.2 million Euros, up 1.1% from FY 2014 (+3.1% in Q4 2015). Excellent results of the new collection of Tod's handbags; we are confident to see this trend confirmed also in Spring Summer collections.
Finally, sales of apparel were 66.9 million Euros, up 2.3% from FY 2014; this category broadly reflects the performance of the Fay brand.
Breakdown of consolidated sales by regionmillion Euros | FY 2015 | FY 2014 | % change at reported rates | % change at constant rates |
Italy | 322.8 | 311.1 | +3.7% | +3.7% |
Europe (excl. Italy) | 248.6 | 221.3 | +12.3% | +9.4% |
Americas (*) | 105.6 | 87.3 | +21.0% | +5.3% |
Greater China (**) | 225.8 | 225.7 | 0.0% | -12.0% |
Rest of World | 134.2 | 120.1 | +11.8% | +6.3% |
TOTAL | 1,037.0 | 965.5 | +7.4% | +1.8% |
Preliminary and unaudited figures
(*) This line includes the whole American continent (Northern and Southern America). (**) This line includes: mainland China, Hong Kong, Macao and Taiwan.
Sales in Italy were 322.8 million Euros, up 3.7% from FY 2014 (+11.1% in Q4 2015), with very strong results in both the distribution channels.
In the rest of Europe, sales totalled 248.6 million Euros, up 12.3% from FY 2014, mainly driven by France, Germany and UK.
The Group's sales in the Americas totalled 105.6 million Euros, up 21.0% from FY 2014 (+25.5% in Q4 2015). Positive results in both the distribution channels.
The Group's sales in Greater China were 225.8 million Euros, broadly aligned with 2014 turnover. We are beginning to see tentative signs of improvement in mainland China; this positive trend is not yet visible in Hong Kong.
Finally, in the area "Rest of the World" the Group's sales totalled 134.2 million Euros, up 11.8% from FY 2014, driven by the outstanding results of Japan and Korea, which are maintaining their healthy growth trends.
Tod's S.p.A. issued this content on 14 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 March 2016 17:08:11 UTC
Original Document: http://www.todsgroup.com/system/document_ens/511/original/press_release_2016_03_14.pdf
