Fila FY core profit down 14% on virus-related school closures

FILA Fabbrica Italiana Lapis ed Affini SpA

22/03/2021 16:47

March 22 (Reuters) - Italian pencils and creative tools
maker, FILA Fabbrica Italiana Lapis ed Affini,  FILA.MI 
reported on Monday a 14% fall in full-year core profit after
school closures due to the coronavirus, especially in India and
Mexico, weighed on sales. 
    Fila, founded in Florence in 1920, said 2020 earnings before
interest, tax, depreciation and amortization (EBITDA) fell to
95.4 million euros ($113.82 million), below analyst expectations
of 100.35 million euros, according to a Refinitiv SmartEstimate.
    Adjusted revenues fell 11.5% to 608.2 million euros. 
    The company said it will propose to pay out a dividend of
0.12 euros per share.
    Shares in the company closed down 3.2%, compared with a rise
of 0.28% in Milan's mid-cap index  .FTITMC .
($1 = 0.8382 euros)

 (Reporting by Rita Plantera, editing by Agnieszka Flak)
 ((r.plantera@thomsonreuters.com; +48 58 769 65 79;))