Gentili Mosconi H1 sales increase by 4.2 percent

Luxury fabric manufacturer Gentili Mosconi S.p.A. said revenues for the first half of 2023 amounted to 27.3 million euros, an increase of 4.2 percent compared to the same period of 2022 with significant increase in fashion textile accessories and home textile accessories businesses.

Commenting on the trading update, Francesco Gentili, president and CEO of Gentili Mosconi, said: “We are very satisfied with the results achieved in the semester, the first following the listing, which confirm our expectations on the positive trend in terms of revenues and profitability thanks to cross-selling which determined the strengthening of sales for the accessories lines.”

Gentili Mosconi recorded profitability in the first six month period. The adjusted EBITDA was equal to 5.4 million euros, an increase of 648 thousand euros compared to the first half of 2022. The adjusted EBITDA margin was equal to 19.9 percent of revenues.

Adjusted EBIT increased 15 percent to 4.9 million euros, while adjusted EBIT margin was equal to 18.1 percent of revenues. Net profit rose 14 percent to approximately 3.8 million euros.

The company’s net financial debt changed from a negative balance of approximately 0.3 million euros as of December 31, 2022 to a positive balance of approximately 16 million euros due to the capital increase during the IPO of 15 million euros.