Brunello Cucinelli declares dividend

At a shareholders’ meeting held yesterday, Italian luxury house Brunello Cucinelli S.p.A., decided to allocate the net profit of 52,124,968 euros. The company said in a statement that an amount of 20,400,000 euros, attributing to 0.30 euros per share as a dividend, corresponds to a pay-out ratio of 40.2 percent of the group’s result.

In March, the company reported 8.1 percent increase in net revenues for 2018 at current exchange and 10.7 percent at constant exchange rates to 553 million euros; while revenue from sales and services, including other operating income, amounted to 554.4 million euros (627.5 million dollars), an increase of 7.9 percent.

The company's EBITDA of 95.1 million euros represented an improvement in margins from 17 percent to 17.2 percent, and an increase of 8.8 percent. Normalized net income, excluding the fiscal benefits of the Patent Box scheme, amounted to 46 million euros, representing a rise of 9.4 percent. Including the fiscal benefits arising from the Patent Box scheme, net profit for 2018 was 51 million euros.

Picture:Brunello Cucinelli website