BasicNet S.p.A., the Turin, Italy-based parent of the Sebago, Superga, Briko, Kappa, K-Way, Jesus Jeans, and Sabelt brands, has reported the company’s consolidated full-year revenues increased 3.1 percent year-over-year to €409.2 million in 2024, compared to €396.8 million in 2023.

  • Direct sales grew 4.2 percent to €346.8 million in 2024 from €332.8 million in 2023.
  • Royalties from commercial and productive licensees were down 2.2 percent to €60.9 million, compared to €62.3 million in 2023.

Aggregate sales of the Group’s brand products from the global network rose 3.3 percent to €1.2 billion for the year, compared to €1.1 billion in 2023.

  • Commercial licensees and direct sales increased 5.4 percent to €864.7 million in 2024 from €820.0 million in 2023.
  • Commercial licensees and direct sales increased 12.1 percent in Europe, which reportedly accounts for ~ 76.6 percent of aggregate sales, and grew by 1.5 percent in the Middle East and Africa. Sales in the Americas fell 21.3 percent, and Asia and Oceania declined 22.6 percent for the year.
  • Productive licensees sales dipped 2.3 percent to €313.8 million in 2024 from €321.0 million in 2023.

EBITDA was €61.1 million in 2024, up 5.1 percent year-over-year, attributed to increased investments in sponsorships and communication and human resources, confirming the company’s continued commitment to the consolidation and development of the brands.

EBIT amounted to €42.1 million for the year, up 2.6 percent year-over-year, after amortization and depreciation of €9.6 million and depreciation of right-of-use for €9.4 million, increasing due to 12 new direct points of sale, as part of its retail segment development.

The company’s net financial position with banks was negative €90.8 million at year-end, improving compared to negative €92.6 million at December 31, 2023. Net financial position was €142.0 million at year-end, compared to negative €139.1 million at December 31, 2023. The company distributed dividends of €7.4 million in 2024 and acquired treasury shares for €14.4 million.

The company’s Board of Directors has reported that they have reviewed these 2024 preliminary figures and will report definitive results in early March.

“2024 was a greatly satisfying year for the Group, particularly as these results were achieved within a still very complex macroeconomic environment,” stated company CEO Federico Trono. “The gradual improvement throughout the year of the economic performance and the equity position, supported by the solid commercial growth of the Group’s brands, allowed us to deliver record consolidated revenues and EBITDA. Simultaneously, working capital was optimized, and the debt to banks reduced. All these components confirm the strategic foundation of our business model geared toward ensuring the long-term, sustainable growth of the Group’s brands.”

In other BasicNet news, the company announced this month that K-Way, Superga and Sebago have opened three adjacent stores in Chelsea, London, to mark a strategic step in strengthening the presence of the three brands in Europe. The K-Way flagship store features the brand’s new minimalist visual concept, also used in recent store openings. Superga and Sebago share one retail space, offering customers an integrated shopping experience.

The company also expects to close the Permira investment fund agreement regarding acquiring a 40 percent stake by Permira Growth Opportunities II in K-Way S.p.A. on February 28, 2025. BasicNet will continue to hold the remaining 60 percent stake in the French outerwear brand. Permira expects to support K-Way growth across its channels, emphasizing direct-to-consumer, including opening new stores.

Image courtesy BasicNet S.p.A.