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Here’s how and how much the pandemic makes Tod’s shoes

3 years ago babelfish

Here's how and how much the pandemic makes Tod's shoes

Declining turnover and zero coupon for shareholders. All the details on the 2020 accounts of the Tod's group

Zero dividends to be distributed to Tod's shareholders.

This is what Tod's board of directors decided by approving the 2020 accounts of the fashion and clothing group

The proposal not to distribute the coupon will be submitted to the approval of the ordinary shareholders' meeting, called on first call for next 21 April and on second call for 28 April.

Here is a summary of the 2020 numbers of the Tod's group.

TURNOVER OF TOD'S

In the 2020 financial year, the consolidated turnover of the Tod's group amounted to 637.1 million (-30.4% compared to 2019).

REVENUES FROM TOD'S

In the fourth quarter of the year alone, revenues amounted to € 184.5 million, with a decrease of 22.6% compared to the fourth quarter of 2019.

THE COMMENT OF THE SUN 24 HOURS ON THE 2020 ACCOUNTS OF TOD'S

The Tod 's Group closed 2020 down by 30.4% to 637.1 million, with a change in trend in the fourth quarter (-22.6% to 184.5 million). This means – underlined Il Sole 24 Ore – “China's ability to react and recover, where revenues grew double-digit in the last three months of the year, against a still negative trend in Europe and the United States. , as also found by other major players ".

NET PROFIT OF TOD'S

The net result of the group was negative for 73.2 million.

DEBT

Net financial debt is equal to 124.9 million, (excluding the 396.4 million of the liabilities for the rental contracts of the shops).

PROFITABILITY

The profitability ratios reflect the decline in revenues: adjusted EBITDA is 69.5 million, EBIT is negative for 93.7 million, the Group's net result is 73.2 million, against net financial debt of 124.9 million.

CHINA'S GROWING ROLE FOR TOD'S

In the first months of the year – wrote Il Sole 24 Ore – China confirms the trend of the fourth quarter of 2020 and Roger Vivier returns to run, the brand with the highest positioning within the portfolio, composed not only by Tod 's, by Hogan and Fay.

THE COMMENT OF DIEGO DELLA VALLE

According to Diego Della Valle, president and CEO of the group, 'the results of 2020 were deeply influenced by the pandemic, which particularly hit the luxury goods sector, causing long periods of closure of shops in different areas of the world and the almost total disappearance of purchases linked to tourist flows. In this context, the priority of our group has been to protect the health of employees and customers and, subsequently, to face the decline in sales with careful cost control, always taking into consideration all the activities necessary to maintain the great quality, craftsmanship and creativity of our products. We have adopted great caution in the collection of orders and in the quantities of product delivered to the stores, in particular in the wholesale channel, which has undergone very long periods of closure of the activities ”.

THE ROLE OF THE ECOMMERCE ACCORDING TO THE VALLEY

In this scenario, Della Valle adds, "we have increased our investments in marketing, in all its forms, mainly digital, as a crucial communication tool to communicate with the new generations of consumers, which we consider a priority for sustained growth. future of our turnover. We are very happy with the results obtained with the e-commerce channel, which recorded a gradual acceleration during the year, reaching and exceeding our expectations and which is still continuing to grow at a very high rate. We look positively at the current year, also strengthened by the excellent comments received from the new collections, even if we must not forget the persistent context of great uncertainty, caused by the unknown Covid-19, still very present in many parts of the world. Even in the awareness of the financial solidity of the group, we decided to propose to the meeting not to distribute dividends ”.

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/ecco-come-la-pandemia-fa-le-scarpe-a-tods/ on Thu, 11 Mar 2021 09:19:51 +0000.