The luxury Italian sneaker maker’s adjusted EBIT increased 9% to €163.4 million ($173.8 mm) for the year on revenues that grew 13% constant currency to €654.6 million ($696.4 mm). In Q4, sales contributed €188.6 million to the top line, up 14% from the prior year. Adjusted EBITDA improved 14% to €227.3 million ($241.8 mm), pushing the company’s leverage ratio to 2.4x, and cash closed the year at €154 million.

DTC, which now accounts for 77% of total revenues, saw sales rise by a currency-neutral ... Log in to view full article.