Fedon: first quarter results

For the first quarter of 2005, the Fedon Group has recorded revenues equal to 13.685 million euros. The orders in progress are also at a good level and stand at 16.1 million. New top performance for the 'Giorgio Fedon 1919' collection, recording an increase of 48.5%.

Competition from China influences the sales prices dynamics, which fell by 5 and 10%, depending on the product category, against continuous or increased quantities. The company continues at fast pace its policy aimed at redressing direct production costs and included the opening of a new facility in China which became operational in the early months of 2005. This wholly-owned investment by the Fedon Group will allow it to directly supply customers and to control the entire production process.

continuous growth has characterized the quarter's turnover for the 'Giorgio Fedon 1919' line, the company's 'second heart' which, in little more than two years, has achieved an important level in the sector's high segment. Aimed at pleasing men and women who work and travel, the line consists of a wide range of elegant and minimalist objects - diaries, watches, notepads, pens, card holders, key rings, cigar cases and much more - which received multiple Ispa Awards at Paperworld in Frankfurt, the main fair in the sector.

Positive trend also for Hawk, the Group company operating in the automation sector, and Expoplay by Fedon, specialized in the design and production of display stands.

At the close of financial year 2004, which recorded revenues of 57.268 million, Giorgio Fedon & Figli SpA will distribute to shareholders a dividend of 0.27 euros per share with effect from July 1, 2005.