Financial data, just published, shows that 2020 was a year of “solid capitalization and improvement for the net financial position of the group”, summarizes MFF. And that 2021 “will be an organic growth year”. OTB’s financial position is well, and the group is now looking to acquire other entities. The CEO Ubaldo Minelli remains cautious and careful. But the first thought, of course, goes to Jil Sander, a brand of which the current owner, Renzo Rosso, has fueled rumors. “We aren’t ready to talk about it yet – says Mr. Minelli -, but we expect the moment to come soon”.
OTB is hunting
The rumors find their origins in the solid capitalization of OTB. Maison Margiela brought home +20% revenue, while Diesel and Marni were penalized by their positioning within the retail segment. In any case, OTB closed 2020 with an EBITDA of 176 million euro and an EBIT of 13.5 million. The number is down 17.7% compared to 2019, points out MFF, but only because there were 21.1 million of non-recurring and extraordinary provisions.
“These provisions were made for caution, with the awareness that the pandemic is still not over – said Mr. Minelli -. We confirm our organic growth targets for 2021”. This “safety – he adds -, lets us believe that there are the bases to widen our perimeter. There are a number of opportunities on the market today and the group is in the right position to look at them with interests”. Something is about to happen: the group’s borders (now at 1.3 billion euro) are destined to grow.
In photo, images from jilsander.com and diesel.com
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