“Folli Follie’s Financial Results for the first quarter 2005 according to the International Financial Reporting Standards (IFRS)”
Athens, June 22nd 2005. Folli Folli accomplished high growth rates in the first quarter of the year, ending on March 31st 2005, continuing its steady growth development path.
The profits per share reached 0,47€ against 0,32€ from 2004, an increase of 47%. Net Profit after Taxes amounted to 15,6 M€, posting growth of 40%, compared to 11,2 M€ of the same quarter in 2004.
Consolidated sales for the period January 1st 2005 to March 31st 2005 increased by 13% reaching 53.3 M€ versus 47.2 M€ of the same period in 2004. Consolidated Earnings Before Taxes was 19,8 M€, a 24% increase compared to 16 M€ in March 2004.
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) increased by 22% to 20,2
M€ versus 16,5 M€ in the previous year. On the EBITDA level, the profit margin reached 37,8%, versus 35% in 2004.
With regard to the parent company Folli Follie S.A., financial results also demonstrated impressive growth rates in the first quarter of 2005, reaching 11,6 M€ of consolidated sales, increased by 5% in comparison to the same period in 2004. Earnings Before Tax grew by 11% from 4.5 M€ in 2004 to 5 M€ in 2005.
In an analysis of total sales by looking at each region, Japan accounted for 20%, the rest of Asia 48%, Europe 17% and Travel Retail operations reached 15%. According to the sales per product category, jewellery account for 66% of sales, watches account for 28% and accessories account 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 over 280 points of sale, and continues to develop new strategically important markets around the world while strengthening its presence in existing ones.