Italia Independent confirms that eyewear is its core business, after eight years of experimenting in two additional segments - apparel and communication. Quoted on the AIM counter of the Italian stock exchange, the group closed 2015 with revenues at €39.6 million, up by 20.4 percent as compared to 2014. Eyewear represented a full 79.7 percent of overall revenues, up from 79.4 percent in 2014. Sales outside Italy increased by 42.3 percent, representing 46.7 percent of revenues. The company's own stores also performed well, with sales up by 57 percent to €2.17 million.
The consolidated operating profit before amortization (Ebitda) grew by 41.1 percent to €5.12 million, or 12.9 percent of sales, while net profit increased by 7.3 percent to €475,000. However, operating earnings after amortization (Ebit) dropped from €1.32 million to €1.17 million. Company officials say this was due to amortization of costs related to the opening of new stores and the group's new offices, and to the increase in provisions for various expenses. Net debt at the end of 2015 reached a level of €22.63 million, more than double the level of €10.2 million of the year before.
In January of this year, Italia Independent began the worldwide production and distribution of Adidas Originals, developed in partnership with Adidas under an agreement signed in September 2015. The collection was presented with a touch of glamor at the Mido show in Milan last month.
The group's positive results encouraged the board of directors to invest in eyewear manufacturing through the acquisition - completed in February - of 70 percent of the capital of Alialux, one of Italia Independent's original suppliers. The aim is to increase the group's degree of vertical integration and manufacturing know-how.