Silvano Fashion Group's 2024 Financial Report Analysis and Insights
Financial Highlights of Silvano Fashion Group in 2024
The Silvano Fashion Group has unveiled its consolidated interim financial report for the recent year. This report not only highlights the company's performance in the fourth quarter but also provides a comprehensive overview for the entire year ending 2024. Investors have witnessed key metrics that underline the company's financial health and operational achievements.
Key Financial Metrics Comparison
Analyzing the financial indicators for 2024 reveals significant insights when compared to 2023. The consolidated revenue reached €58,070 thousand, marking a slight 0.9% decline versus the previous year's total of €58,597 thousand. Despite this small drop in revenue, the gross profit saw an impressive increase of 1.6%, totaling €34,278 thousand.
Profitability Trends
The operating profit for the year was reported at €17,248 thousand, down from €17,973 thousand in the previous year, representing a 4.0% decrease. Notably, the EBITDA decreased by 3.8%, totaling €20,316 thousand, resulting in a margin shift from 36% to 35%.
Growth in Net Profit
On the upside, the net profit attributable to the equity holders of the parent company surged by 24.6%, reaching €12,366 thousand compared to €9,927 thousand in 2023. This remarkable improvement brings forth a net profit margin of 21.3%, indicating the effective cost management practices amidst revenue challenges.
Assets and Financial Stability
The total consolidated assets amounted to €84,489 thousand as of December 31, 2024, up 16.9% from €72,252 thousand a year earlier. This growth points to the company’s solid asset base, largely propelled by a robust increase in current assets, which rose by 19.3% to €70,871 thousand.
Investments and Strategic Initiatives
In terms of investments, the company allocated €942 thousand in property, plant, and equipment during the year. While this is a decrease from €1,133 thousand invested in the previous cycle, these funds primarily focused on renewing and enhancing store environments, which is essential for maintaining competitiveness in a dynamic retail landscape.
Employee Engagement and Remuneration
As of December 31, 2024, Silvano Fashion Group employed 1,655 individuals, which reflects a strategic increase in workforce, especially within retail operations. The overall expenditures for salaries and related taxes totaled €14,155 thousand, rising from €13,266 thousand in the previous year, indicating a commitment to investing in talent.
Decisions by the Governing Bodies
The management's strategic foresight is evident as it continues to foster shareholder engagement and transparent communication. Notably, decisions made during Extraordinary Meetings and Annual General Meetings demonstrate a commitment to sound governance. For instance, appointing Ernst & Young Baltic AS as the auditor showcases a proactive approach to regulatory compliance and financial scrutiny.
Conclusion and Outlook
In summary, Silvano Fashion Group's financial report for 2024 illustrates a mixture of challenges and triumphs. While revenue experienced a slight decline, the notable increase in net profit and strong asset growth emphasizes the underlying resilience of the group. The steadfast focus on enhancing customer experiences through strategic investments in retail and a commitment to employee welfare further positions the group favorably for future growth.
Frequently Asked Questions
What were the total revenues for Silvano Fashion Group in 2024?
The total revenues for 2024 were €58,070 thousand, indicating a 0.9% decrease from the previous year.
How much did the net profit increase in 2024?
The net profit attributable to equity holders increased by 24.6% to reach €12,366 thousand in 2024.
What investments did the company make during 2024?
In 2024, the group invested €942 thousand primarily in property, plant, and equipment, focused on improving retail operations.
How many employees does Silvano Fashion Group have as of 2024?
As of December 31, 2024, the company employed 1,655 individuals across various functions including retail.
Who is responsible for auditing Silvano Fashion Group?
Ernst & Young Baltic AS has been appointed as the auditor for Silvano Fashion Group, ensuring compliance and transparency in financial reporting.
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