Salmoiraghi & Viganò: results for the year 2005/2006

The Salmoiraghi & Viganò Group, the optics retail leader, has announced the results of the 2005/2006 financial statement which closed September 30, 2006. After four years of management by Chairman Dino Tabacchi, the Group has consolidated the positive result achieved last year and estimates a net profit of 4.5 million euros (the pre-tax profit was 7.5 million euros) compared to a net profit of 1 million euros for the previous year).

In an optics market characterized by volume stagnation, the Salmoiraghi & Viganò Group has recorded a 12% increase in sales which rose from the 107 million euros of last year to this year's 120 million euros.

The operating result (EBITDA) stands at 18 million euros against 15.6 million euros last year (+16%).

Also during the first two months of 2006-2007 the Group's sales results showed a net increase (compared to the same period last year) with billings up +21.4% (+7.5% for the same number of stores).

At September 30, 2006, the Salmoiraghi & Viganò Group had a total of 308 outlets (against 264 at the end of last year) in two separate chains throughout Italy: Salmoiraghi & Viganò (228 stores at the end of last year), the leader of the middle-high range, and VistaSì (80 stores at the end of last year) which dominates the 'first price' area.
During the first two months of the year, the total number of stores had already risen to 329.

A significant commitment was made to the growth of the network: 17.6 million euros were invested in development.

'I am very pleased with the results achieved in recent years and especially with the entire company's commitment which has allowed us to further consolidate the Group's positive profit and loss account', Dino Tabacchi commented.