Italian apparel company Tod’s has reported full-year consolidated sales of €1.007bn ($1.079bn) for fiscal 2022 (FY22).
The figure represents a 13.9% increase from fiscal 2021 (FY21) and is roughly 10% above pre-pandemic levels of 2019.
Tod’s’ sales during the year were driven by ‘strong’ performance in all geographical areas, with the retailer’s consolidated sales increasing by 15.9% in Italy and 25.6% in the rest of Europe.
Driven by growth in its leather goods and accessories category, Tod’s also registered double-digit increases across all categories in FY22.
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the year were €207.2m, with a 20.6% sales margin in FY22 against 18.2% in FY21.
Its earnings before interest and taxes (EBIT) were €58.2m, which is a 5.8% margin on its sales.
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Tod’s net result for FY22 was €23.1m and its net financial debt was €71.1m.
Tod’s chairman and CEO Diego Della Valle said: “In 2022, we successfully laid the foundations for future turnover’s growth.
“The group’s revenues exceeded €1bn, with a growth of around 14% compared to 2021 and with operating results materially improved versus the previous year.
“Good growth of all brands in all categories and in all regions, excluding China due to issues related to Covid.
“We continue to remain focused on enhancing organic growth in our stores and developing our omni-channel strategy, while continuing to invest in the digital world.
“It is equally important to protect both our supply chain, which guarantee us the best possible quality, much appreciated by our consumers all over the world and which reinforces the desirability of our Italian lifestyle products.
“Considering the excellent start of the season in our stores and the solidity of the order book for next season, we are very confident about the group’s future results, even in an international context that remains uncertain and unpredictable.”