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Press Release -SOLOMES AD - MCCCC ● BRUNELLO CUCINELLI BRUNELLO CUCINELLI : The BoD has approved the 2021 Half - Yearly Financial Report Revenues of € 313.8 million , up + 7.7 % at current exchange rates ( + 10.0 % at constant exchange rates ) compared to June 30 , 2019 and + 52.9 % at current exchange rates ( + 57.7 % at constant exchange rates ) compared to June 30 , 2020 ; The second quarter of 2021 reported revenues of € 149.2 million , up + 13.8 % compared to the same period in 2019 ; EBITDA of € 80.6 million ( 25.7 % margin ) compared to € 3.4 million last year and € 79.2 million as of June 30 , 2019 ; EBITDA excluding IFRS 16 impacts of € 39.9 million ( incidence of 12.7 % ) compared to € 14.1 million as of June 30 , 2020¹ and € 49.9 million as of June 30 , 2019 ; EBIT of € 25.3 million ( incidence of 8.1 % ) , compared to € 53.3 million as of June 30 , 2020 and € 39.1 million as of June 30 , 2019 ; ● Net income of € 21.9 million ( incidence of 7.0 % ) , compared to a loss of € 47.7 million in the first half of 2020 and a profit of € 25.0 million in the first half of 2019 . • Significant ongoing investment program of € 29.9 million in the first half of 2021 , within a multi - year project confirmed even in the presence of the effects of the pandemic , and supported by the solid capital structure ; Characteristic Financial Indebtedness2 of € 96.3 million , compared to € 136.5 million as of June 30 , 2020 . Brunello Cucinelli , Executive Chairman and Creative Director of the Company , commented as follows : " The first half of 2021 closed with very , very interesting results . Sales of the Fall Winter 2021 collections got off to a very good start , and the brand seems to be gaining broad consensus both in its stylistic expression and in the way it relates to the local community and to humanity as a whole . Order intake for the Spring Summer 2022 Men's and Women's collections , now almost at an end , was excellent . All this prompts us to envisage a strong rise in turnover of around 20 % for the current year , and to view this time as a sort of year of rebalancing , and for 2022 we expect a return to a healthy growth of 10 % " . ¹ EBITDA as at 30/06/2020 equal to € 14.1 million is the normalized value , obtained by sterilizing not only the accounting effects of the application of IFRS 16 but also the extraordinary provision of € 30.0 million related to the " Brunello Cucinelli for Humanity " project for the allocation of surplus garments that were generated due to the emergency situation from Covid - 19 and the consequent temporary interruption of sales . Financial payables for leases are excluded ; therefore , the figure reported has been determined without the application of IFRS 16 . 1