BasicNet S.p.A., the Turin, Italy-based parent of the Kappa, Robe di Kappa, K-Way, Superga, Briko Jesus Jeans, Sabelt, and Sebago brands, reported consolidated revenues in the 2025 first half (H1) declined 0.7 percent to €172.6 million, compared to €173.9 million in the 2024 H1 period.

  • Royalties from commercial and productive licensees increased 16.6 percent year-over-year y/y to €34.6 million.
  • Direct sales declined 4.2 percent y/y to €137.3 million, which was attributed to the conversion of several distribution contracts into licensing agreements.

Aggregate sales of Group brand products by the Global Network were reportedly up 4.3 percent y/y to €567.1 million.

  • Commercial licensees and direct sales inched up 0.6 percent y/y to €392.7 million, compared to €390.3 million in H1 2024.
  • Productive licensees’ sales increase 13.7 percent y/y to €174.4 million.

The combined revenue from Commercial licensees and Direct sales increased by 5.2 percent in Europe, which accounts for 79.7 percent of aggregate sales. In contrast, sales declined in other regions: Asia and Oceania decreased by 3.6 percent, the Middle East and Africa by 5.8 percent and the Americas by 33.3 percent year-over-year.

In order to provide a more accurate representation of the Group’s operating performance during the period, the company said the indicators below have been prepared on the basis of pro-forma consolidated financial statements, which exclude the income statement impacts of non-recurring charges related to the conclusion of commercial relationships or the settlement of various disputes (for approximately €2.3 million), in addition to the extraordinary income statement impacts of the divestment, completed on February 28, of approximately 40 percent of the stake held in K-Way S.p.A. and in particular the related costs (amounting to €18.3 million). The gain from the sale, provisionally amounting to €140.1 million, is only recognizable in the separate financial statements of BasicNet S.p.A.

EBITDA* €15.1 million, compared to €17.6 million in H1 2024.

EBIT* €4.4 million, compared to €8.7 million in H1 2024, after amortization and depreciation of €4.9 million and depreciation of right-of-use for €5.7 million, increasing due to the new openings (8 direct sales points), as part of retail segment development.

Net profit* of  €0.8 million, compared to €2.8 million in H1 2024.

The company’s net financial position with banks, including the effects of the sale of its stake in K-Way S.p.A., is positive by €26.3 million, compared to a negative €90.8 million at December 31, 2024. The net financial position improved from a negative €142.0 million at December 31, 2024, to a negative €32.6 million at June 30, 2025.

Dividends of €7.4 million were paid and treasury shares acquired for €7.9 million, while the property loan undertaken by BasicVillage was settled early. The Debt/Equity Ratio improved significantly, from 0.83 in December 2024 to 0.11 at June 30, 2025.

Outlook
Against an uncertain geopolitical and macroeconomic backdrop, the Group said it remains focused on sustainable growth and brands enhancement over the medium to long term through a flexible and responsive approach.

*Pro-forma net of several extraordinary and non-recurring costs, including the extraordinary effects from the sale of approximately 40 percent interest in K-Way S.p.A.

Image courtesy Superga/BasicNet S.p.A.