K-Way parent BasicNet achieves 3.1 percent revenue growth in 2024

In a preliminary results statement, Italian fashion group BasicNet has reported revenues of 409.2 million euros, up 3.1 percent in the financial year 2024.

CEO Federico Trono commented, "2024 was a greatly satisfying year for the Group, and particularly as these results were achieved within a still very complex macroeconomic environment."

Owner of brands such as K-Way, Kappa, Jesus Jeans among others added that direct sales reached 346.8 million euros, up 4.2 percent, while royalties from commercial and productive licensees totalled 60.9 million euros, down 2.2 percent. Sales of Group brand products reached 1.2 billion euros, a 3.3 percent increase, and productive licensee sales were 313.8 million euros, down 2.3 percent.

Regionally, the company witnessed sales growth in Europe by 12.1 percent, and by 1.5 percent in the Middle East and Africa, while reducing in the Americas by 21.3 percent and in Asia and Oceania by 22.6 percent.

EBITDA for the year of 61.1 million euros rose 5.1 percent, and EBIT amounting to 42.1 million euros increased 2.6 percent.

Torno added, “The gradual improvement throughout the year of the economic performance and the equity position, supported by the solid commercial growth of the Group's brands, allowed us to deliver record consolidated revenues and EBITDA. Simultaneously, working capital was optimised and the debt to banks reduced.”

BasicNet distributed dividends of 7.4 million euros in 2024. The company said that Permira's acquisition of a significant minority stake in K-Way is expected on February 28, 2025. Permira acquires 40 percent stake in outdoor lifestyle brand K-Way