Paolo Todisco: “Zegna Baruffa is developing in the East”

The acquisition, in 2009, of all Chiavazza’s spinning mills has brought carded yarns into the group (our company was known as a worsted spinner) and by buying out Botto Poala, in the same year, we acquired a precious tradition of high quality yarns. 2010 was a year of transition and we worked towards creating synergy within the group achieving a consolidated turnover of over 126 million euro with an EBITDA of 8, 2% (approximately 10 million euro), a pre-tax profit of 1 million 140 thousand euro, a significant cash flow with of a depreciation of over 7 million. The data for the first half of 2011 leads us to hope for further growth to achieve a consolidated end of year turnover of over 140 million euro. The critical issues are those related to raw materials, which have become extremely expensive in recent months, leading buyers to be more cautious. However, the decrease in exports in mature markets will be compensated by the growth of emerging countries in the East and China where wardrobes are “empty” and the desire to fill them is greater than in the West.

TAGS: Cristina Cariaggi, Paolo Todisco