Gruppo Fedon: 2005 results

Financial year 2005 closed at 56.096 million euros (-2%) for Giorgio Fedon & Figli SpA. The result is in line with expectations in that, as far as the glasses cases core business is concerned, it takes into account the growing 'China effect' of a constant downturn in product prices on the market.

But for some time now the company has been continuing with an important modernization process and has allocated considerable resources to innovation, improving competitiveness, increased volumes, and production cycle optimization. It has also given the go ahead for gradual diversification, which led to the successful exploration of new roads in the leather and services sectors.

Giorgio Fedon 1919 label has successfully entered the 'luxury' sector with refined proposals for men and women who travel and work. Precious materials, design that is minimal but sensitive to fashion trends, a synthesis of technological innovation and artisan tradition. For brand development, the opening of direct-management mono-brand stores is also planned in major cities. After Vallesella di Cadore, the company's historical headquarters, and the outlet with showroom in Milan, within the first six months of 2006 it will be the turn of Paris, an important step in a national and international expansion.

In the service sector, new projects are well underway: 'Expoplay', which offers innovative lines of advertising displays for stores and companies, and Adifos (Advanced Innovation Fedon On Surface), a Fedon world patent that is a break-trough because it personalizes all surface and shapes. The trend is also positive for the satellite company Hawk, which operates in the automation sector.

The order portfolio has returned to its highest levels at 19.300 million and lays the foundations for a promising 2006.