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Basic Net SpA Investor Presentation 2025
4229_rns_2025-02-12_84378283-1622-4c9d-af72-89e52af366ba.pdf
Investor Presentation
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2024 PRELIMINARY RESULTS CONFERENCE CALL
TURIN, 12TH FEBRUARY 2025
02 03
EXECUTIVE SUMMARY NETWORK ACTIVITY
FY 2024
GROUP INTERIM RESULTS FY 2024
EXECUTIVE SUMMARY
12m Consolidated revenues and EBITDA grow at an historic high, with a Q4 performance of double digit growth Y-o-Y in both direct sales and royalties from licensees. Net indebtedness with banks in continuous reduction compared to 2023 after dividends and buyback.
TOTAL AGGREGATED SALES
01 EXECUTIVE SUMMARY
12m aggregated sales amounted to € 1.178,5 mln (+3,3% YoY) with mixed performances across the Brands. Aggregated sales of sourcing centers (ASSC) were reduced by -2,3% compared to 2023 as the rationalization of direct purchases continues. ASL went up +5,4% on a Yo-Y basis thanks to a roaring Q4 (+23,7%).
GROUP CONSOLIDATED REVENUES
Group consolidated revenues amounted to € 409,2 mln (+3,1% YoY, +13,9% Q4 24 vs Q4 23) reaching the peak in BasicNet history: after a sloppy start of the year for direct sales, the steady recovery in Q2 and Q3 has translated into a strong DTC activity in Q4. Royalties from licensees followed the same dynamics as aggregated sales.
EBITDA
EBITDA stood at € 61,1 mln (€ 58,1 mln in 2023) – equally an historic high for the Group. Q4 contributed + € 7,0 mln compared to 2023 with strong contribution from both direct activities and revenues from licensees, driving an improvement in the absorption of fixed and general costs.
NFP WITH BANKS
Net Financial Position with banks at € 90,8 mln (compared to € 92,6 mln at YE 2023). Operating cash flow of the quarter has been extremely positive with a peak in December, consistently with the usual seasonality. The buy-back activity has seen an uprise compared to Q3 YTD as the overall market volumes have increased.
TOTAL AGGREGATED SALES (TAS) € 1.178,5 mln € 409,2 mln
CONSOLIDATED REVENUES
NETWORK ACTIVITY FY 2024
ASL – GEOGRAPHIC AREA 02
| in € million | 31.12.24 | in % | 31.12.23 | in % | Var | Var % |
|---|---|---|---|---|---|---|
| Europe | 662,7 | 76,6% | 591,1 | 72,1% | 71,6 | 12,1% |
| Asia and Oceania | 43,3 | 5,0% | 55,9 | 6,8% | (12,7) | -22,6% |
| Americas | 58,2 | 6,7% | 73,9 | 9,0% | (15,7) | -21,3% |
| Middle East and Africa | 100,5 | 11,6% | 99,1 | 12,1% | 1,5 | 1,5% |
| Total ASL | 864,7 | 100,0% | 820,0 | 100,0% | 44,7 | 5,4% |
NETWORK ACTIVITY 02 FY 2024
Q4 MARKETING
KAPPA | GENOA CFC RDK | LA POLO BRIKO | XMASTER
WINNING STARTS WITHIN BRIKO | BARDIANI KAPPA | POMPEII
KAPPA | TRIESTINA
Q4 MARKETING
KAPPA | WARNER KAPPA | TORINO CITY MARATHON KAPPA | KALLITHEA FC KAPPA | SERIE B
KAPPA X EQUIPO FC BRIKO | ESPLORA KAPPA | UFL KAPPA | FC VERSAILLES
Q4 MARKETING
K-WAY X DIEMME
NEW STORE OPENINGS LA
11
R&D FW 24 COLLECTION
CERVINIA GONDOLA LIFTS VALLÉE, CHAMONIX
K-WAY X WOOLMARK
NETWORK ACTIVITY 02 FY 2024
Q4 MARKETING
SUPERGA X MAKNA
Q4 MARKETING
GROUP INTERIM RESULTS FY 2024
CONSOLIDATED REVENUES
CONSOLIDATED REVENUES
NET FINANCIAL POSITION
| in € .000 | 31.12.24 | in % | 31.12.23 | in % | Var | Var% |
|---|---|---|---|---|---|---|
| Sub-total net money holdings | (51.370) | 36,2% | (39.059) | 28,1% | (12.311) | 31,5% |
| Short-term portion of m/l term loans | (11.214) | (14.330) | 3.116 | |||
| Short-term net financial position | (62.585) | 44,1% | (53.390) | 38,4% | (9.195) | 29,5% |
| Long-term portion of m/l term loans | (27.922) | (39.136) | 11.214 | |||
| Financial leasing payables | (284) | (77) | (206) | |||
| Sub-total loans and leasing payables | (28.206) | 19,9% | (39.214) | 28,2% | 11.008 | -28,1% |
| Net financial position with banks | (90.791) | 64,0% | (92.603) | 66,6% | 1.813 | -2,0% |
| Right of use debts | (43.080) | (36.778) | (6.302) | |||
| Payables for future acquisition of company shares | (8.081) | (9.738) | 1.657 | |||
| Net financial position | (141.952) | 100,0% | (139.119) | 100,0% | (2.833) | 2,0% |
NET FINANCIAL POSITION WALK
- € 92,6 mln
- 19 -
- € 90,8 mln
GLOSSARY AND ALTERNATIVE PERFORMANCE MEASURES
| Commercial licensees or licensees | independent business owners, granted licenses to distribute Group brand products in their respective regions |
|---|---|
| Productive licensees or sourcing centers | third-party entities whose function is to manufacture goods branded with the Group brands for the exclusive sale to Commercial licensees or to Group companies |
| Total Aggregated Sales (TAS) | the sum of Aggregated Brand Sales (ASL) and Aggregated Sales of Sourcing Centers (ASSC) |
| Aggregated Brand Sales (ASL) | sales by commercial licensees – that generate royalties for BasicNet Group – and sales by the Group companies |
| Aggregated Sales of Sourcing Centers (ASSC) | sales by productive licensees – that generate sourcing commissions for BasicNet Group |
| Consolidated revenues | the sum of royalties, sourcing commissions, sales of products made by BasicNet Group companies and real estate revenues |
| EBITDA | "operating result" before "amortisation and depreciation" |
| Net Financial Position | total of current and medium/long-term financial payables, less cash and cash equivalents and other current financial assets |
| Net Financial Position with banks | Net Financial Position, excluding IFRS 16 and financial liabilities for the acquisition of businesses |
THANK YOU