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Silvano Fashion Group Consolidated Interim Financial Report for Q1 of 2025 (unaudited)
Summarized selected financial indicators of the Group for Q1of 2025 compared to Q1of 2024 and 31.03.2025 compared to 31.12.2024 were as follows:
The Group`s sales amounted 12 016 thousand EUR during Q1of 2025, representing a 13.6% decrease as compared to the same period of previous year. Overall, wholesale decreased by 24.0%, measured in EUR.
The Group's gross profit during Q1of 2025 amounted to 5 844 thousand EUR and decrease by 25.0% compared to previous year. The gross margin during Q1of 2025 decreased by 13.2% compared to Q1of 2024. The cost of sold goods increased by 0.9%.
Consolidated operating profit for Q1of 2025 amounted to 1 402 thousand EUR, compared to 3 548 thousand EUR for Q1of 2024, decrease by 60.5%. The consolidated operating profit margin was 11.7% for Q1of 2025 (25.5% for Q1of 2024). Consolidated EBITDA for Q1of 2025 decreased by 49.6% and amounted to 2 165 thousand EUR, which is 18.0% in margin terms (4 298 thousand EUR and 30.9% for Q1of 2024).
Reported consolidated net profit attributable to equity holders of the Parent company for Q1of 2025 amounted 2 752 thousand EUR, compared to net profit of 2 554 thousand EUR for Q1of 2024, net profit margin attributable to equity holders of the Parent company for Q1of 2025 was 22.9% against net profit 18.4% for Q1of 2024.
As of 31March 2025 consolidated assets amounted to 89 449 thousand EUR representing increase by 5.9% as compared to the position as of 31 December 2024.
Trade and other receivables increased by 501 thousand EUR as compared to 31 December 2024 and amounted to 1 707 thousand EUR as of 31March 2025. Inventory balance increased by 3 835 thousand EUR and amounted to 32 140 thousand EUR as of 31 March 2025.
Equity attributable to equity holders of the Parent company increased by 4 396 thousand EUR and amounted to 70 389 thousand EUR as of 31 March 2025. Current liabilities decreased by 221 thousand EUR during Q1of 2025.
During Q1 of 2025 the Group's investments into property, plant and equipment totalled 90 thousand EUR, in previous year same 278 thousand EUR. Investments were made mainly into opening and renovating own stores, as well into equipment and facilities to maintain effective production for future periods.
As of 31 March 2025, the Group employed 1 642 employees, including 517 people in retail operations. The rest were employed in production, wholesale, administration and support operations. In 31.12.2024 there were 1 655 employees, including 518 people in retail operations.
Total salaries and related taxes during Q1of 2025 amounted 3 929 thousand EUR ( 3 509 thousand EUR in Q1 2024). The remuneration of key management of the Group, including the key executives of all subsidiaries, totalled 208 thousand EUR.
AS Silvano Fashion Group
Phone: +372 6845 000
Email: info@silvanofashion.com
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2321 Rosecrans Avenue. Suite 2200
90245 El Segundo Stati Uniti