BasicNet S.p.A., the Italian parent company of Kappa, Superga, Sebago, and Briko, among others, reported that first-half consolidated revenues increased 10.9 percent to €180.0 million, compared to €162.3 million in H1 2022. 

Reported revenues comprised the following:

  • Royalties from commercial and productive licensees of €32.7 million. Royalties declined 6.4 percent in H1 from €34.9 million in H1 2022; and
  • Direct sales of €146.6 million, a 15.5 percent increase from €127 million in H1 2022. Direct sales grew versus the same period of the previous year partly due to the contribution of K-Way France S.a.s, acquired in April 2022; however, the corresponding royalties from the French subsidiary decreased.

Aggregate sales of Group brand products of €558.3 million worldwide generating royalties originating with:

  • Commercial licensees and Direct sales inching up 0.7 percent in the first half to €396.2 million, compared to €393.5 million in the year-ago half; and
  • Productive licensees’ sales €162.1 million in H1, a 7.0 percent decline from the €174.3 million generated in H1 2022.

In the half, commercial licensees and direct sales growth was 12.5 percent, confirmed in Europe, accounting for approximately 70.6 percent of aggregate sales. Commercial licensees and direct sales growth in the Americas was down 25.4 percent for the half, Asia and Oceania declined 17.4 percent and Middle East and Africa decreased 14.2 percent in the period due to “a contraction in some markets which saw extraordinary growth in the preceding period.”

BasicNet generated EBITDA of €22.6 million for the first half, compared to €22.4 million in the year-ago period, an increase of 0.9 percent. EBIT was €14.5 million for the period, down 6.3 percent from the €15.5 million generated in H1 2022. Net profit was €7.4 million for the half, compared to €10.7 million in H1 2022.

The net financial position was reported as negative €138.3 million at the end of H1, compared to negative €141.7 million at December 31, 2022, and negative €119.3 million at June 30, 2022. 

Dividends of €8.4 million were distributed in H1 2023 and treasury shares were acquired for €1.2 million.

Based on the order portfolio and forecasted royalties and sourcing commissions, the company expects consolidated revenues to “confirm the growth in the current financial year,” ad results from operations “remain contingent on the evolving global general economic and geopolitical environment.”

Photo courtesy Sebago