Havaianas) making progress in Europe since the beginning of the year
With 280 million euros (904 million Brazilian reals) in revenue, Alpargatas has recorded a 4.5% increase for its third quarter ended September.
The Brazilian group, owner of Havaianas and license holder of Mizuno and Timberland in Brazil, did however note a slight drop in its dynamics. Since the beginning of the year, its sales have increased by nearly 8% to 821 million euros. They were penalised though by the changes in the exchange rates. Comparatively speaking, the increase amounts to nearly 14%.
The group continues to generate the majority of its earnings domestically, with 545 million euros in revenue with 144 achieved in Argentina and 132 in the rest of the world.
But its international sales registered a strong jump: +29% for the first nine months of the year compared to 2013. Alpargatas Europe sales increased 27% in volume and 24% in value to 21 million euros. The group highlights a nice climb in Italy and the UK for its products. It also mentioned the opening of a store in New York and that internationally it saw its sales increase in Cuba, the Dominican Republic, Angola and India.
Profitability was also a strong point with 175% increase in its EBITDA in Argentina and 69% for the rest of the world, but down 40% in Brazil. Its results before taxes, interest, depreciation and amortization thus amount to 98 million euros, down by nearly 12%.
The group's net result diminished by nearly 18% to 60 million euros.
Alpargatas is expecting a 7% to 10% increase in its consolidated revenue for the entire financial year.
1 EUR = 0.799220 GBP
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