Tod's Group sales rise 17.4% in H1

Italian luxury group Tod's has released its financial results for the first half of 2022, revealing a 17.4% increase in consolidated sales to £405.4 million (€467.5 million).

In the six months to 30 June 2022, Tod's shared the following individual brand results:

• Tod's sales up 21% to £196.9 million (€227.2 million).
• Roger Vivier sales up 1% to £99 million (€114.3 million).
• Hogan sales up 16% to £81.1 million (€93.6 million).
• Fay sales up 17% to £16.9 million (€19.6 million).

In the first half of 2022, sales in Europe (excluding Italy) were up 36% to £87.9 million (€101.4 million).

EBITDA amounted to £78.5 million (€90.6 million), with a margin of 19.4% on sales, more than 300 bps higher than the 16.3% margin of H1 2021.

The group saw a net profit of £693,792 (€800,000) in the first half of the year, compared with a loss of £17.9 million (€20.7 million) in H1 2021.

Tod's said its operating results improved as compared to the first half of 2021, driven by the sales growth and the more favourable mix of revenues by region, distribution channel and product category, in addition to the lower incidence of promotional sales.

Diego Della Valle, Chairman and CEO of Tod's, said: “We are satisfied with these results, which confirm the appreciation for the outstanding positioning of our brands and the high quality of our products. Meanwhile, we carefully look at the performance of international markets, currently difficult and full of unknowns, both from an economic and geo-political point of view. We therefore pay the utmost attention to the evolution of costs related to energy, logistics and raw materials. We also consider as priorities the rationalisation and efficiency of the distribution network and the development of the omni-channel channel, with the aim of increasing like-for-like and higher-margin turnover.”