March 2 Italian shoemaker Geox reported
on Thursday a 23 percent drop in 2016 core earnings, and missed
the sales and margin targets set out in its 2016-18 plan.
The company said earnings before interest, tax, depreciation
and amortisation (EBITDA) fell to 47.6 million euros ($50.0
million) last year.
Sales rose 3 percent to 900.8 million euros, below the
average growth target of 6.5 percent in its 2016-18 plan, while
the margin fell to 5.3 percent from 7.1 percent compared with
its goal for an improvement towards 10-11 percent in 2018.
Geox proposed a dividend of 0.02 euros per share on its 2016
results, down from 0.06 euros the previous year.
($1 = 0.9512 euros)
(Reporting by Silvia Recchimuzzi in Gdynia; Editing by Mark