Aeffe makes its debut at the Piazza Affari Milan Stock Exchange

The debut at the Piazza Affari Milan Stock Exchange of the shares Aeffe is planned for the 24 July. This was the announcement made at the road show, by Chairman Massimo Ferretti and Managing Director Simone Badioli.

The group, entirely controlled by the Ferretti brothers, creates, produces and distributes top-of-the-range, ready-to-wear fashion for women and accessories, and its portfolio includes important owned brands, such as Alberta Ferretti and Philosophy, Moschino, and Pollini, while those licensed include Jean Paul Gaultier (8% of the group's turnover) and Authier, Blugirl and Basso&Broke (7% of the profits together).

The Aeffe group distributes its products in 87 countries with 150 single-brand outlets and about 6,500 multi-brand stores.

In 2006, the consolidated income amounted to Euro 275 million (export over 60%), the gross operating margin rose to Euro 37.1 million (+26.1%) and operating profits to 26.4 million (+44.2%). The first quarter 2007 saw total profits of 87.1 million (+12%) and a gross operating margin of 15.2 million (+46.5%). In the last two years an average of 7% of the profits have been invested in research. As for the dividend policy "we are aiming at a percentage of 30%" declared the group's heads.

The debt "will decrease, without calculating the increase in quotation capital, which will immediately bring us in the black". On 31 March 2007, the net financial debt stood at Euro 118,575,000 in the listing prospectus.

At the road show, the top management hinted that in the future, Aeffe may "launch new product lines, which could include a line for men, although specific know-how is needed for that, which is something we do not possess" declared Ferretti and Badioli. After transferring the Narciso Rodriguez brand "we have room for new licenses, also because we have a very flexible structure. But this does not mean we shall do it tomorrow".

(Source: ANSA)