“Folli Follie’s Financial Results for the first nine months of 2005 according to the International
Financial Reporting Standards (IFRS)”
Athens, November 29th 2005. Folli Follie presents the financial results for the nine month period ended 30 September 2005.
Consolidated sales for the period January 1st 2005 to September 30th 2005 increased by 15% reaching 155 M€ versus 134,6 M€ of the same period in 2004. Earnings Before Taxes was 52,2 M€, a slight increase compared to 52 M€ in September 2004.
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) increased by 7% to 48,6 M€ versus 45,5 M€ in the previous year. On the EBITDA level, the profit margin was 31,4%, versus 33,8% in 2004.
The profits per share reached 1,27€ against 1,32€ from 2004, decreased by 4%. Net Profit after Taxes were 42 M€, compared to 43,9 M€ of the same period in 2005, decreased by 4%. It should be noted, however, that the decrease is due to the non-participation of EFSIMON (Olympic collections) in HDFS total results, as well as due to the increased tax rate of 2005 in comparison to 2004.
With regard to the parent company Folli Follie S.A., financial results demonstrated positive growth rates in the first nine months of 2005, reaching sales of 27,5 M€, which represent an increase of 6% in comparison to the same period in 2004, when sales were 25,8%. Earnings After Taxes were 14,1 M€, a 17% increase as compared to 2004.
In an analysis of total sales by looking at each region, Japan accounted for 19%, the rest of Asia 48%, Europe 19% and Travel Retail operations reached 14%. According to the sales per product category, jewellery accounted for 64% of sales, watches accounted for 30% and accessories accounted for 6%.
Folli Follie is a Greek company which designs, manufactures and distributes jewellery, watches and fashion accessories under the Folli Follie brand. Nowadays, Folli Follie is active in 20 countries, has around 300 points of sale, and continues to develop new strategically important markets around the world while strengthening its presence in existing ones.
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