The Italian fashion group Tod’s Group significantly increased its earnings in the 2023 financial year thanks to double-digit sales growth and improved margins.
After the parent company Tod’s SpA announced at the end of January that revenues had grown by 11.9 percent to 1.13 billion euros last year, not least due to strong business in China, the group of companies presented its full results for 2023 on Wednesday .
Accordingly, costs rose less than sales, so that the operating result (EBIT) increased by 62.7 percent to 94.7 million euros. Net profit more than doubled compared to the previous year: it jumped from 23.1 to 50.0 million euros.
Given the “difficult macroeconomic environment,” CEO Diego Della Valle was “very satisfied” with the results. He also reiterated his intention, announced in February, to delist the group of companies together with financial partner L Catterton. In view of the impending upheaval, the group postponed the publication date of its first quarter results from April 24th to May 15th.