World Footwear

Companies

Vulcabras returns to positive net result

Jan 12, 2015 Brazil
Vulcabras returns to positive net result
The Brazil-based company announced third quarter results, characterized by a recovery in net income, which reached 1.0 million euros
Consolidated revenue for the period reached 124.0 million euros, up by 0.7% from similar period last year. Domestic sales represented 75.3% from total consolidated revenue (93.4 million euros), growing by 9.3% from quarter three in 2013. For the nine months period, consolidated revenue for the nine months' period totaled 339.2 million euros, down by 0.9% from similar period in 2013. The internal market took a share of 76.0% from total consolidated revenue.

Net revenue reached 105.5 million euros, down by 2.1% from the 107.8 million euros registered during the third quarter in 2013. In the nine months period terminated by the end of the third quarter, net revenue generated by Vulcabras reached 291.4 million euros, down by 1.6% from similar period last year.



Net income for the third quarter reached 1.0 million euros, which compares to -1.9 million euros in similar period in 2013. Accumulated net income for the nine months period totaled -25.9 million euros, down from -22.0 million euros in similar period in 2013.

Brazil-based Vulcabras/ azaleia, is one of the largest footwear and sporting goods industries. According to information on the company’s website they are Latin America's largest industry in its segment. Included in its portfolio are brands such as Olympikus, Azaleia, Dijean, Reebok and Vulcabras Boots. Employing more than 25 thousand staff and with 9 factories in operation, Vulcabras produces over 100 thousand pairs of shoes per day, directed to the domestic and international markets. Its products are found in 20 thousand points of sale in Brazil and roughly 3 thousand points of sale spread over 30 countries.

The company shares were last traded at 2.08 euros on the 5th of January at the São Paulo Stock Exchange (BM&FBOVESPA).

For more information about Vulcabras / azaleia please visit the company's website.

Note: The company announces their results using the Brazilian real. An exchange rate of 3.2433 was applied, as announced by the European Central Bank on the 2nd of January 2015.

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