Press Release
PATTERN BOARD OF DIRECTORS HAS REVIEWED SOME PRELIMINARY
CONSOLIDATED FIGURES FOR 2024
2024 REVENUE IN LINE WITH 2023, THANKS ALSO TO M&As AND DESPITE THE
DECLINE IN THE LEATHER GOODS SEGMENT
FOCUS REMAINS ON INDUSTRIAL, TECHNOLOGICAL AND ESG INVESTMENT
HIGHLY SOLID FINANCIAL STRUCTURE
Turin, 11 February 2025 - The Board of Directors of Pattern S.p.A. (EGM:PTR), an Italian company set up in 2000 by Francesco Martorella and Fulvio Botto, one of the leading players in the engineering, development, prototyping and production of clothing lines for the world's most prestigious high-end brands in the catwalk segment and in men's and women's first lines, has reviewed some preliminary consolidated figures for 2024, pending audit, as shown below:
- Revenue from sales: € 125.8 million vs pro forma at 31 December 2023 (€ 126.4 million)1;
- Capital expenditure: € 18.8 million (€ 19.4 million in 2023);
- Negative NFP (debt) at € 14.4 million (at 31 December 2023 positive (cash) at € 0.6 million), an increase due to both the acquisition of Umbria Verde Mattioli (UVM) and 8% of S.M.T. and the construction work on the new Turin headquarters.
Luca Sburlati, CEO of Pattern, together with Franco Martorella and Fulvio Botto, Founders and Majority Shareholders of Pattern: "2024 has highlighted the importance of our Group's industrial setup, deeply rooted in Italy's districts of excellence, in navigating periods of market difficulties, including through process rationalization. The resilience of our results comes despite a sharp decline in the leather goods segment, which is more than offset by the performance of other product categories. We remain focused on developing our most innovative industrial, technological, and ESG infrastructure. For this reason, we will continue to maintain a high level of investment throughout 2025, consistent with prior years".
To provide a more comprehensive and consistent view of the performance in 2024, revenue from sales in 2024 is shown versus the pro forma figure of 2023, which does not include the business unit sold to Burberry in early October 2023. The figures do not include any pro forma consolidation simulation of the additional M&As implemented.
Revenue from sales amounted to € 125.8 million - and also includes revenue from the second half of the UVM acquisition completed in June 2024 - basically in line (-0.5%) versus € 126.4 million at 2023 pro forma. As a result, there is essentially an alignment of revenue thanks to the M&As completed at end 2023 and during 2024, which offset the decline in the leather goods segment.
When compared with revenue reported at 31 December 2023 (€ 145.6 million including the Burberry business unit, later sold), revenue instead decreased by 13.6%.
1 Revenue from sales at 31 December 2023 does not include the business unit sold to Burberry in early October 2023.
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Press Release
Capital expenditure at 31 December 2024 totaled € 18.8 million, broadly in line with € 19.4 million at 31 December 2023. This reflects acquisitions or increases in equity stakes paid in 2024, along with significant expenditure in tangible assets, including the start of construction of the new Turin headquarters and the acquisition of textile machinery at S.M.T..
The net financial position stood at a negative € 14.4 million versus a positive € 0.6 million at 31 December 2023. This change is related mainly to the heavy investment made in M&As.
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About Pattern Group:
Pattern Spa is a leading company in prototyping, engineering and production of fashion show collections for the most important international luxury fashion brands. The company, founded in 2000 by Franco Martorella and Fulvio Botto, and joined in 2012 by CEO Luca Sburlati, began in 2017 a structured growth process, which ended in 2022 with the creation of the Italian Hub of Luxury Fashion Engineering and Production. Following the listing on the Euronext Growth Milan Market of Borsa Italiana in 2019, Pattern continued its strong growth by external lines with the acquisition of 10 companies, each leader in Engineering and Production in the luxury fashion segment. Pattern Group is therefore present today with 12 companies (13 locations) in 7 regions of the Italian territory, and is positioned on the main luxury product categories (men's and womenswear, clothing and accessories, still fabric, knitwear and leather goods) starting from the Research and Engineering phase up to Production.
Pattern Spa is also the first Italian company in the sector to have obtained the SA8000/Social Accountability Certification in 2013 and an ESG Rating from 2019, confirming the company's strategic choice to invest in sustainability, technology and human resources.
https://www.patterngroup.it/
For further information:
Euronext Growth Advisor
Value Track SIM S.p.A.
e-mailgiovanni.tommasi@value-track.com
Pattern Investor and Media Relations
Sara De Benedettisara.debenedetti@pattern.it
IR Advisor - CDR Communication
Silvia Di Rosasilvia.dirosa@cdr-communication.it
Claudia Gabriella Messinaclaudia.messina@cdr-communication.it
Marika Martincigliomarika.martinciglio@cdr-communication.it
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