Geox Demonstrates Profitability
18.11.2014 4224

Geox Demonstrates Profitability

Geox is pleased with its financial results for the first nine months of 2014. The group completed the reporting period with a turnover of 668,4 million euros, with an increase of 8,1% compared to the same period a year earlier. Profit data is also positive: EBITDA amounted to 46,3 mln (31,1 to 2013), in operating profit rose to 15,6 mln euro compared to a loss of 4,3 mln last year.

The company confirmed the forecasts for the business plan for the 2014 year as a whole: growth in turnover up to 800 million euros and a return to profitability.

Geox Founder and President Mario Moretti Polegato also commented: “The positive results of the spring / summer 2015 procurement session reaffirm that we are on the right track with our focus on product innovation, continuous development and specialization of our retail network and wholesales ".

Sales of the brand through multi-brand stores recorded a jump in growth in the third quarter (+ 13,1%), which allowed them to return to profitability. Retail chain performance was strong throughout the nine months of this year, showing a total increase of 9,4%.

Geox is pleased with its financial results for the first nine months of 2014.

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