The Armani Group closes 2022 with consolidated revenues of 2.35 billion euros, an increase of 16.5% compared to 2021, accompanied by operating profitability (pursuant to International Financial Reporting Standard, Ifrs 16) which reaches 289 million euro at Ebitda level, up 25% compared to 2021, and 202.5 million euro at Ebit level, up 30% compared to 2021.
Despite an international context still characterized by multiple crisis factors, explains the group, in 2022 all sales channels grew compared to 2021, with a very balanced distribution that sees direct retail up by 17%, wholesale by 16% , e-commerce by 9%, with trends often higher than the reference markets, especially for the clothing category. The positive response from the collections, combined with a policy of ever-increasing attention to service quality, gives further impetus to the positive performance with an increase in full-price sales, which is reflected in the increase in operating margins.
“With the satisfactory sales levels corroborated by even better growth trends in operating profitability – comment Giuseppe Marsocci, deputy general manager and chief commercial officer of the Armani Group and Daniele Ballestrazzi, deputy general manager and chief operating financial officer of the Armani Group – we can consider a positive conclusion the adjustment period following the decision to reorganize the brand portfolio by focusing on the three main brands, Giorgio Armani, Emporio Armani and Armani Exchange”.
In 2022, they recall again, “induced revenues – represented by the sales of Armani-branded products made directly by the Group and by third-party licensees – reached 4.6 billion euros, with an estimated retail value of over 6, 5 billion euros. We are progressing well ahead of schedule, towards the objectives set for 2025, the year in which the fiftieth anniversary of the birth of Giorgio Armani occurs”.
At a geographical level, also in relation to the gradual easing of health restrictions and the progressive recovery of travel in Europe and America, in 2022 the Armani Group achieved very positive revenue growth performances in these two continents, respectively equal to + 24% and +19.5% compared to 2021. The group makes it known.
Overall, Asia instead recorded a decline of 6.3%, attributable to extensive lockdowns and the reintroduction of strong restrictions on mobility, which in China were only lifted at the beginning of 2023. In line with its medium-long term, the Armani Group has chosen to devote an increasing volume of resources to communication initiatives (+22% compared to 2021) and investments, particularly in the Group’s digital and IT structure, as well as in the restructuring and development of shops (+25% compared to 2021).
This important economic and financial commitment has not compromised the increase in short-term economic results: in 2022 the Armani Group in fact achieved a pre-tax net profit of 218 million euros, an increase of 16.4% compared to 2021 and by 24.5% compared to the pre-pandemic levels recorded in 2019. The positive signs of the first months of 2023 also confirm the momentum of 2022 for the groupi. The first quarter ended with net revenues up by 18%, substantially confirming the balanced growth between the various channels and the increase in operating profitability.
At the geographical level, there is a significant change compared to 2022 with a more balanced trend between the regions, Asia is recovering (+14%), and the trend is still positive in Europe (+22%) and, although more contained , in America (+10%), where a slowdown is foreseeable in the coming months, which hopefully will be offset by the positive trend in Asia.
“In an increasingly difficult and competitive context, I am proud to have managed to maintain my independence and the stability of the Group, thanks also to the work and commitment of my collaborators and employees – commented Giorgio Armani, chairman and director delegate of the Armani Group – The medium-long term strategic path that I have chosen to undertake continues to prove effective and the results prove it – underlines Armani – 2022 ended with further growth that continues in the first quarter of 2023, confirming the solidity of the Group.I am firmly convinced that operating in a perspective of continuity, following a concrete and coherent approach, focused on the values that have always been the basis of my creative and managerial philosophy, is the only way to face the challenges and the unforeseen events that characterize the current scenario”.
