Salvatore Ferragamo posted a net loss of €86 million in the first half of 2020, down from a profit of €60 million a year earlier due to the impact of the Covid-19 pandemic. As previously reported, sales amounted to €377 million, declining by 46.6 percent year-on-year on a reported basis and by 46.9 percent at constant currency rates.

Ebitda dropped by 83.9 percent to €30 million and Ebit was a negative €74 million against a positive €94 million a year earlier.

The adjusted net cash position dropped to €58 million from €141 million at the end of June 2019.

Ferragamo stressed that during the months of July and August revenues increased “solidly” in China, South Korea and online compared with the previous year.