Q1 2021 FILA Fabbrica Italiana Lapis ed Affini SpA Earnings Call Transcript
Good afternoon and welcome, everyone, for this call.
In March 2019, the combined market, India plus Mexico, that -- two among the most strategic markets for FILA and the fastest growing, had a turnover of EUR24 million and generated EUR2.5 million EBITDA. In March 2021, India and Mexico have generated EUR17.5 million turnover and zero EBITDA. Of course, this does not calculate at all the regular trend of average growth of these two markets in the last five, six years, that was between 15% and 20%.
I would like also to add another information in March 2019. The exchange rate between euro and dollar was 1.15 average. In March of 2021, this exchange rate is on average 1.20.
So I think that when Stefano De Rosa will comment actual results, I think that you can appreciate now FILA is under a correct cruising speed. Of course, the situation is still complicated in India and Mexico but with a huge potential in the future quarters coming, as the situation over there is extremely complicated.
One formation that I
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