Fedon Group: results at September 30

The Fedon Group closed the first nine months of 2005 with revenues of 41.266 million (-1.8%). With a healthy order portfolio worth 18 million euros (+1.2%), together with the constant growth (+30.6%) of the business and travel accessories division with the 'Giorgio Fedon 1919' label and the sector for eyewear accessories and services (+65.3%), the company expects to be on target at year end.

During the period, competitiveness and operating margins have improved thanks to investments aimed at innovation (in 2005, an amount equal to 2.5% of billings), at product diversification and the readjustment of direct production costs. The wholly-owned production site in China, which began operating at the beginning of the year, has reached a daily production rate of 30,000 items, while production in Romania has doubled.

A positive trend also for satellite companies Hawk, operating in the automation sector, and Expoplay, specialized in the creation and production of display units; progress for the Advanced Innovation Fedon On Surface (ADIFOS) project, a Fedon world patent that revolutionizes the method of personalizing all types of surfaces.

There is a lot going on also for the top-of-the-range leather line, 'Giorgio Fedon 1919': the opening of the first monobrand store under direct management at the historical headquarters in Vallesella di Cadore (Belluno) is to be followed by the opening of the outlet and showroom in Milan, an important step in an expansion program at home and abroad and which envisages for 2006 at least four other openings in the most strategic and representative cities for the brand.