Turin, Italy-based BasicNet S.p.A., the parent of the Sebago, Superga, Briko, Kappa, K-Way, Jesus Jeans, and Sabelt brands, has reported that consolidated revenues increased 2.5 percent to €303.4 million in the nine-month YTD period ended September 30. This growth cycles against a 0.5 percent decrease in the year-ago YTD period. Revenue compares to €297.5 million in the 2023 comparative YTD period. Third quarter consolidated revenues increased 4 percent year-over-year.

  • Direct sales amounted to €252.7 million in the YTD period, a 0.9 percent increase compared to €250.5 million in the 2024 nine-month YTD period.
  • Royalties from commercial and productive licensees were €49.9 million in the YTD period, up 12.4 percent from €44.4 million in the prior-year YTD period when sales had declined in high single digits versus the 2023 YTD period.

Aggregate sales of BasicNet-owned-brand products worldwide increased 7.3 percent year-over-year to €909.0 million in the YTD period as follows:

  • Commercial licensees and direct sales amounted to €668.1 million in the nine-month period, up 7.1 percent year-over-year from €623.6 million the 2024 YTD period.
  • Sales of Manufacturing licensees were €240.9 million in the YTD period, up 8.0 percent from €223.1 million in the 2024 YTD period, as the company easily cycled against a mid-single-digit decline in the year-ago period versus the 2023 YTD period.
Commercial licensees and direct sales increased by 13.2 percent in Europe, on top of a 7.3 percent rise last year. The region accounted for ~80.8 percent of aggregate sales in the 2025 YTD period, compared to 76.5 percent of the total in the 2024 YTD period.

The financial indicators reported below were prepared by the company based on a pro forma consolidated financial statement, which excludes the economic effects of non-recurring expenses related to the termination of commercial relationships or the settlement of various disputes (equal to approximately €2.3 million), as well as the extraordinary effects resulting from the sale, completed on February 28, 2025, of approximately 40 percent of the shareholding in K-Way SpA and, in particular, the related costs (equal to €18.8 million). The capital gain resulting from the sale, provisionally equal to €140.1 million, is recognized exclusively in the separate financial statements of BasicNet SpA.

EBITDA amounted to €39.8 million for the nine-month period this year, compared to €40.6 million in the 2024 comp period.

EBIT was reported at €23.4 million for the YTD period, down from €26.9 million produced in the 2024 YTD period, after amortization and depreciation of €7.7 million and depreciation of right-of-use for €8.7 million, increasing due to the new openings (11 direct sales points), as part of retail segment development.

The net financial position with banks, including the impact of the sale of the stake in K-Way SpA, was substantially reduced to zero, an improvement compared to the negative €90.8 million at December 31, 2024. The net financial position decreased from negative €142.0 million at December 31, 2024, to negative €61.0 million at September 30, 2025.
During the year, dividends of €7.4 million were paid, treasury shares were purchased for €9.8 million, and a mortgage loan taken out by BasicVillage was repaid early. The debt-to-equity ratio decreased from 0.83 at December 31, 2024, to 0.19 at September 30, 2025.

Outlook
In an uncertain geopolitical and macroeconomic context, the Group stated that it will continue to focus on sustainable growth and brand enhancement in the medium to long term, leveraging its business model based on flexibility and adaptability.

Image courtesy BasicNet S.p.A./Sebago