Press Releases
Strong results in the first quarter 2001 for Bulgari:
- turnover at 165 million Euro (+ 35%)
- operating profit at 26.8 million Euro (+26%)
- net profit at 22.5 million Euro (+79%)
Rome, 15 May 2001 - Bulgari, the Italian contemporary jeweller announced in Rome today its consolidated first quarter results of 2001, showing an increase in turnover of 35% to 165 million Euro in the first quarter 2001 compared to 122.6 million Euro in the first quarter 2000 (at constant exchange rates: +31%).
During the same period of time Bulgari posted a consolidated operating profit of 26.8 million Euro (+26%) against 21.3 million Euro in 2000 and a net profit of 22.5 million Euro (+79%) against 12.6 million Euro in 2000.
These positive first quarter results were obtained despite general weak market conditions and a tough comparison with the previous year (turnover had increased by 56% in the first quarter of 2000).
Turnover increased in all markets and all product categories. Growth was particularly strong in Italy (+85%). Very good results were obtained also in Europe (+31%) as well as in the Middle East and other minor countries (+95%). The US posted an increase in turnover of 14%, nevertheless it suffered of difficult economic market conditions.
Product-wise, the great success of the accessories (+97%) continued in this first quarter, almost doubling revenues compared to the same period last year. Outstanding results were also obtained in the perfume segment (+66%) thanks to the success of the BLV fragrance.
BULGARI GROUP
GROWTH BY GEOGRAPHIC AREA
| 1 Q 2001 | 1 Q 2000 | |
|---|---|---|
| italy | +85% | +26% |
| europe (exl. italy) | +31% | +74% |
| america | +14% | +51% |
| japan | +29% | +54% |
| far east | +25% | +71% |
| middle east/ others | +95% | +48% |
Source:Bulgari SpA
BULGARI GROUP
BREAKDOWN BY GEOGRAPHIC AREA
| 1 Q 2001 | 1 Q 2000 | |
|---|---|---|
| italy | 14% | 10% |
| europe (exl. italy) | 23% | 24% |
| america | 18% | 21% |
| japan | 21% | 22% |
| far east | 17% | 18% |
| middle east/ others | 7% | 5% |
| total | 100% | 100% |
Source: Bulgari SpA
BULGARI GROUP
GROWTH BY PRODUCT CATEGORY
| 1 Q 2001 | 1 Q 2000 | |
|---|---|---|
| Jewellery | +25% | +111% |
| watches | +30% | +54% |
| perfume | +66% | +8% |
| accessories | +97% | +3% |
| royalties & others | +2% | +32% |
Source: Bulgari SpA
BULGARI GROUP
BREAKDOWN BY PRODUCT CATEGORY
| 1 Q 2001 | 1 Q 2000 | |
|---|---|---|
| Jewellery | 32% | 35% |
| watches | 45% | 46% |
| perfume | 16% | 13% |
| accessories | 5% | 4% |
| royalties & others | 2% | 2% |
| Total | 100% | 100% |
In addition, the Board of Directors of Bulgari SpA has resolved to call an Extraordinary Shareholder Meeting on June 27 2001 at 11.00 (Rome Time) in the first call and on June 28 at 12.00 (Rome Time) for the second call in order to resolve on the following Agenda:
- Proposal of amendment of the resolution of the Extraordinary Shareholder Meeting of April 10 1996 as subsequently amended concerning the share capital increase reserved in accordance with art. 2441 last paragraph of the Civil Code to employees of the Company and of the Group;
- Proposal of amendment of the resolution of the Extraordinary Shareholder Meeting of April 30 1998 as subsequently amended concerning the share capital increase reserved in accordance with art. 2441 fifth paragraph of the Civil Code to the managing director of the Company Mr. Francesco Trapani.
- Miscellanea.
For further information: Francesca Zanoni, Tel. 06. 688 10 594
francesca.Zanoni@Bulgari.com