BasicNet S.p.A.’s board of directors has recently announced their 2014 First Quarter Report results.

Key financial highlights registered aggregate sales of Group products (Kappa, Robe di Kappa, Superga, K-Way, Lanzera, AnziBesson, Jesus Jeans and Sabelt) by international licensees of Euro 117 million (4.1% growth and 7% increase at like-for-like exchange rates).

They reached a +3% growth on the American market, a +15% in Middle Eastern and African areas and +18% in the Asian and Oceanian markets, while the European market has remained stable.

K-Way and Superga have registered a strong growth and respectively brought 43% and 34% more revenues. The consolidated net profit was approx. Euro 5.4 million.

Total net debt reduced from Euro 53.1 million at December 31, 2013 to Euro 52 million at March 31, 2014. At March 31, 2013 this debt amounted to Euro 62.8 million (a reduction of 15.4%).

Among international operations of the first quarter there were for the Kappa and Robe di Kappa brands, the renewal of the apparel sponsorship of the Middle Eastern teams (Saudi Arabia, United Arab Emirates, Bahrain, Oman, Qatar and Kuwait); for the Superga brand, they signed agreements for India and Mexico and opened their third mono-brand store in London; for K-Way they reached an agreement for Japan, a sales point was opened in France and a shop-in-the-shop in the Philippines.

In Italy they increased profitability and generated an improved contribution margin on sales by reaching 45% from 32.4% in Q1 2013. The Group’s brand stores numbered 253 at March 31, 2014. In particular, they opened two Robe di Kappa, two Superga and two K-Way mono-brand sales points in Italy.

Franco Spalla, CEO, BasicNet, commented: “The financial results of 2013 of the first quarter of 2014 are showing very positive results, signs of very intense activities both internationally and domestically. Thanks to our commercial development in many new markets – especially for the Superga and K-Way brands – together with our attention for the income component in Italy we reached highly satisfactory results.”