Calin SA revenue rose 15% to 52.7 mln euros

In 2022, Calin SA, the master franchisor of the Italian group representing Calzedonia, Intimissimi, Tezenis and Falconeri in Greece, significantly boosted its revenues, surpassing its pre-Covid 19 levels.

Last year, the company expanded its network with four new stores, bringing the total number of points of sale to 138, while at the end of the year it acquired Sfyris S.A.

More specifically, Calin SA said its revenue rose 15% to 52.7 million euros, up 2.3% in comparison with 2019.

The company operates in both wholesale and retail sales. However, it is faced with high credit risk as four customers represent 54.4% of the company’s total receivables from wholesale customers.

In terms of profitability, although the gross profit margin rose to 47.53% compared to 46.51% in 2021, the total administrative and selling expenses increased by 25.68% compared to 2021.

In absolute terms, the financial cost for the company amounted to 1.082 million euros in 2022 compared to 889,000 euros in 2021. As a result, pre-tax profit fell to 5.951 million euros in 2022, down 19.27%, compared to 7.371 million euros in 2021.

Accordingly, net profit fell by 21% to 4.5 million euros in comparison with 5.7 million euros in 2021.

However, the company will pay the same dividend to shareholders as last year (3.4 million euros).

Last year, the company invested 1.3 million euros in store facilities and their equipment, while around 3 million euros were directed to the new subsidiary Sfyris, which it acquired at the end of 2022 and has now been fully absorbed by Calin.

It is noted that Sfyris SA had a domestic presence with nine stores and showed a turnover of 3.7 million euros in 2022, up 9.4% compared with 2021.

Πηγή: https://www.naftemporiki.gr/english/1481915/calin-sa-revenue-rose-15-to-52-7-mln-euros/