Arezzo&Co announces 4Q12 and 2012 results

Arezzo&Co (BM&FBOVESPA: ARZZ3), Brazil’s women’s footwear, handbags and accessories industry leader, is reporting its earnings for the 4th quarter and full year of 2012

Highlights:

• Net revenue in 4Q12 increased 27.0% on 4Q11 to reach R$252.9 million. Net revenue in 2012 rose 26.7% to a total of R$860.3 million;
• 4Q12 gross margin rose 3.9 p.p. over 4Q11 to reach 44.2%. 2012 gross margin was up 2.2 p.p. over 2011 to reach 43.7%;
• EBITDA in 4Q12 totaled R$43.8 million and was 32.1% over 4Q11 for a 17.3% margin. EBITDA in 2012 reached R$135.8 million, with 15.3% growth in the year. If the non-recurring effect of 1Q12 were excluded, EBITDA in 2012 would have been up 22.1% and reached R$143.8 million;
• Net income in 4Q12 was R$31.7 million and showed a 17.7% increase over 4Q11. Net income in 2012 reached R$96.9 million, showing 5.7% growth in the year. Without the non-recurring impact of 1Q12, net income for the year would have been up 11.5% and reached R$102.2 million;
• In 2012 Arezzo&Co expanded its network by 58 points of sale, of which 24 were Arezzo, 33 Schutz and 1 Alexandre Birman.
 Click here to access the Earnings Release.