Armani increasingly rich, cashed in a coupon worth over 180 million euros
In the face of the luxury crisis and despite the less than brilliant effect on the accounts of his Pallacanestro Olimpia Milano, Giorgio Armani he’s getting richer and richer.
This can be discovered by reading the 2023 ordinary budget of the Giorgio Armani S.p.A.recently filed, from which it is clear that last September 26th the designer collected a pay slip of 182.5 million euros taken from the extraordinary reserve, higher than the 135 million collected last year by the members Armani (99.99%) and Armani Foundation (0.1%).
The balance sheet, however, closed with a profit that decreased year on year from 125 to 81.6 million (and entirely set aside) and this is because the income from subsidiaries (GA Operations) fell from 60 to 54.6 million while interests And financial charges rose from 2.2 to 10.4 million.
Furthermore, write-offs were made for over 12 million, of which 6.5 million concerned the shareholdings, with the most important write-off (2.5 million) concerning the Italian champion basketball team that last year Armani he supported by paying 5 million with capital increase.
On total assets of over 3.1 billion, including liquidity for 880.7 million, the controlled companies are charged with 641 million with the American company in the lead Giorgio Armani Corporation (209.8 million). Armani’s 2023 consolidated results are already known: revenues for 2.44 billion, up 4% compared to the previous year (+6% at constant exchange rates).
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