Etam Q1 net sales up 0.7 percent

The Etam group generated net sales of 333.6 million euros (Rs 2,349.8 crores)

in the first quarter of 2013. This represents an increase of 0.7 percent compared to March 31, 2012. Sales were 1,216.9 million euros (Rs 8,571.6 crores) in 2012. This represents an increase of 2.8 percent versus December 31, 2011.

Like-for-like and at constant exchange rates, net sales decreased by 3.4 percent. Consolidated net income in 2012 came to 13.4 million euros (Rs 94.3 crores) compared with 11.3 million euros (Rs 79.5 crores) in 2011. The group recorded an EBITDA of 100.4 million euros (Rs 707 crores) in 2012 against 89.3 million euros (Rs 629 crores) in 2011. Operating income was 41.9 million euros (Rs 295 crores) in 2012 versus 41.5 million euros (Rs 292.3 crores) in 2011.

In Europe, profitability was significantly improved, with an operating income of 40.4 million euros (Rs 284.5 crores) versus 16.1 million euros (Rs 113.4 crores) in 2011. On the other hand, in China, operating income dropped to 1.5 million euros (Rs 10.5 crores) in 2012 from 25.4 million euros (Rs 172.5 crores) in 2011. At March 31, 2013, the Etam group had 4,452 sales outlets.