During the second quarter of the current financial year Grendene sold 31.8 million pairs of shoes, going down by 13.7% from similar period in the previous year (36.8 million pairs). The domestic market, representing 73% of the quantities sold by Grendene in the quarter, registered a decline of 16.4% and exports down by 5.5%.

In the second quarter of the year, the company generated gross revenue of 119.8 million euros, with the domestic market taking a share of 74% (88.5 million euros). Gross revenue in the quarter went down by 5.4% compared to similar period in 2014, mainly driven by the performance in the domestic market (-11.6%).

Net revenue achieved a 4.3% deterioration from quarter two in 2014, going down from 103.0 million euros to 98.6 million euros.

The average price went up in the quarter (+9.5%), mainly driven by a 24.4% increase in the price of exports.

The accumulated gross revenue for the semester reached 285.4 million euros, slightly down from the previous year (-0.3%). Revenue in the domestic market dropped by 2.6%, contrary to the growing performance in the external markets (+6.6%). Net revenue for the period reached 236.6 million euros, growing 2.4% from the previous year.

Average price for the period reached 3.6 euros, up by 5.9% from similar period last year. Profit for the period reached 58.0 million euros, up by 32.4% from the first semester in 2014.

According to the company, Grendene maintains the leading position in Brazilian footwear exports, being responsible for 37.6% of Brazilian footwear exported in the first semester of 2015.

The company shares were last traded at 4.4 euros on the 11th of August at the São Paulo Stock Exchange (BM&FBOVESPA).

Please note the company posts its results in Brazilian real; Conversion to euros was made applying the exchange rates presented by the European Central Bank on the 10th of August.