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Strong improvement in De Rigo Group's financial results in all business divisions.
 
The Net Sales of 2006 increased by 10.4% to Euro 558.4 Million, compared with Euro 505.7 Million posted in 2005. In  particular:
 
Wholesale & Manufacturing sales increased by 20.2% to Euro 164,7 Million, compared with Euro 137.0 Million realized in 2005 through the contribution of all brands and the launch of the new license agreements Ermenegildo Zegna and Jean Paul Gaultier.
 
The Retail division realized a turnover of Euro 406.8 Million recording an increase of 6.7% compared with the result of Euro 381.3 Million realized on 2005. This result is due to the strong increase of sales on a comparable base in the 590 stores of the two retail Chains of the Group: Dollond & Aitchison  (“D&A”) and General Optica (“GO”) that  operate respectively in the British and Iberian markets.
 
The performance of the franchising and Police products in license, has increased by 13.2% to Euro 85.8 Million in 2006, compared with Euro 75.8 Million realized in 2005
 
The Gross Operating Margin of the Group has increased by 32.4% to Euro 63.4 Million, compared with Euro 47.9 Million realized in 2005, this represents 11.4% of turnover compared with 9.5% in the previous year.
 
The Operating Profit increased by 54.2% to Euro 36.4 Million, compared with Euro 23.6 Million realized in 2005.This represents 6.5% of sales compared with 4.7% in the previous year.
 
Strong improvement on Net Profit to Euro 24.4 Million, increased by 103%  compared to Euro 12.0 Million realized in 2005.
 
The Group improved the net financial position achieving a net debt of Euro 46.3 Million, compared with Euro 58.8 Million in the previous financial year, after higher investments for Euro 23.7 Million, compared with 16.8 Euro Million invested last year, directed to the expansion and replacement of the stores in Spain and the UK The improvement in the economic situation of the Group is due to the distinctive management that has contributed to reduct the debt of 10.8 Euro Million.
 
Mr Ennio De Rigo, President of De Rigo Group, commented on 2006 results:
 
The excellent result of 2006, shows that we have obtained a good sales  increase, without any margin sacrifice in order to support the development. The contribution to the profit of license agreement, that we finalized in the last two years, is improving and we also have   strong and positive contribution coming from the sales increase of our other brands.
 
In our Retail businesses, our Chains realized a strong turnover increase on a comparable base having a positive effect on our profits, due to the attention placed on the control of the costs. The business development and the efficiency research will be pursued with important investments of Euro 15 Million in information systems over the next two years.
 
In General Optica, we want to continue our development with new points of sale both in property and in franchising, too, increasing our differentiation from all the competitors mainly oriented towards low price.  
 
In D&A, which achieved important improvements in 2006, we want to focus on projects regarding the strategic positioning of the Company through the reorganization of the stores, continuing to improve the customer care and to propose again the great TV advertising of the last year.
 
Source : communiqué de presse

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