BasicNet (Kappa): a turnover of €259.7m (-15%) for the financial year 2020

BasicNet posted a turnover of €259.7m for the financial year 2020, down 15% (€305.7m in 2019), including 9.6% in the fourth quarter alone, according to the parent company of the equipment manufacturer Kappa on 02/03/2021.

Royalties from its licensed distributors (see below) amounted to €46m (€55.6m in 2019/-17.2%), or 17.7% of the total, and direct sales from its own sales amounted to €213.8m (€250.1m in 2019/-14.5%), or 82.3% of turnover. EBITDA in 2020 was €19.8m (€42.5m in 2019) and net profit €8.6m (€21.1m in 2019). Finally, BasicNet posted a "contained increase in debt" of €82.2m at 31/12/2020, versus €78.3m on 31/12/2019.

"Major investments were rolled out in the year to support the growth of the brands and the group's consolidation:
• in January, the acquisition of BasicVillage in Milan was finalised for consideration of €10.5m;
• in September the Kappa brand in Japan was reacquired for consideration of €10.9m and the acquisition of Kappa Europe was completed for consideration of €1.9m," explained BasicNet, which also includes K-Way (apparel) and the footwear brands Superga…