Salvatore Ferragamo, one of the global leaders in the luxury sector, in a meeting chaired by Ferruccio Ferragamo, released the Consolidated Interim Report as of September 30, 2019, prepared according to IAS/IFRS international accounting principles.
Among the product categories, at constant exchange rates, footwear posted an increase of 3.4 per cent and handbags and leather accessories of 4.4 per cent as against the corresponding period last year. Fragrances registered a 11.0 per cent decrease at constant exchange rates, with its third quarter performance declining by 35.2 per cent at constant exchange rates.
The Operating Profit excluding IFRS162 (EBIT excluding IFRS162) was down by 5.7 period at 96 million euros as against 102 million euros recorded in the first nine months of 2018.
The net profit for the period including the minority interest amounted to 65 million euros declining by 0.5 per cent against the corresponding period in 2018. The 9M 2019 Group Net Profit excluding IFRS162 was 63 million Euros, compared to 64 million euros in recorded in the first nine months of 2018, marking a decrease of 1.5 per cent.
The Consolidated Interim Report of Salvatore Ferragamo was prepared on September 30, 2019, prepared according to IAS/IFRS international accounting principles. Alongwith the introduction of the new IFRS 16 accounting principle as of January 1, 2019, relating to the accounting treatment of leasing contracts, to make data at September 30, 2019 comparable with the data of the previous periods, the company introduced some performance indicators elaborated excluding the impacts of the new IFRS 16 accounting principle. These indicators have been denominated “excluding IFRS16” with reference to P&L figures.