Latest news with #EuronextMilan
Fashion United
31-07-2025
- Business
- Fashion United
Geox Spa H1 revenue down 4.7 percent
Geox Spa, listed on the Euronext Milan market managed by Borsa Italiana, has approved its consolidated results as of 30 June 2025. The first half of the 2025 financial year recorded a drop in turnover of approximately 15 million euros (-4.7 percent) compared to the first half of the previous financial year. Excluding the impact of the closure of the branches in China and the US, the drop is equal to 6.1 million euros (-1.9 percent), according to a press release. Gross margin remained stable in percentage terms on revenue (51.2 percent), thus resulting in a reduction in absolute terms of approximately 7.7 million euros. Geox H1 results impacted by weak consumer sentiment The company recently appointed a new chief executive officer: Francesco Di Giovanni, who has replaced Enrico Mistron. The new appointment is part of a process to accelerate the company's transformation. "The first half of the 2025 financial year continues to be influenced by complex general market conditions. Macroeconomic indicators confirm a still weak consumer dynamic, conditioned by a climate of low confidence and a consequent significant contraction in demand. Despite the context, we remain fully focused on executing the initiatives set out in our industrial plan, maintaining a rigorous approach focused on the most profitable markets, process optimisation and cost containment," specified Geox management. They added that during the first half, "the first part of the 30 million euro capital increase was successfully completed as defined by the financial manoeuvre, with full subscription by our shareholders. This result strongly motivates us and confirms the relaunch path undertaken." EBITDA (excluding the adjusted IFRS 16 impact) totalled 8.6 million euros compared to 4 million euros in the first half of 2024. The adjusted operating income was positive and amounted to 0.6 million euros compared to negative 5.5 million euros in the first half of 2024. The adjusted net result was negative 3.1 million euros compared to negative 15.4 million euros in the first half of 2024. Review of Geox results across core markets Revenue generated in Italy represented 29.6 percent of the group's revenue (27.8 percent in the first half of 2024) and amounted to 90.5 million euros, an increase of 1.6 percent compared to 89.0 million euros in the first six months of 2024. Revenue generated in Europe, equal to 47.4 percent of the group's revenue (45.7 percent in the first half of 2024), amounted to 144.7 million euros, compared to 146.4 million euros in the first half of 2024, a slight decrease (1.1 percent), mainly due to the negative performance in the DACH area and the Iberian Peninsula. Revenue from other countries totalled 70.1 million euros, down 17.5 percent (17.8 percent at constant exchange rates) compared to the first half of 2024, due to negative performance in both the multi-brand and direct channels. This decrease is mainly attributable to the different geographical scope, which in the first half included revenue generated in the US and China for a total amount of approximately nine million euros. Footwear represented 91.9 percent of consolidated revenue, standing at 280.7 million euros, with a decrease of 3.8 percent (4.0 percent at constant exchange rates) compared to the first half of 2024. Revenue from apparel sales totalled 8.1 percent of consolidated revenue, standing at 24.6 million euros, down 13.6 percent at current exchange rates (14.0 percent at constant exchange rates) compared to 2024. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Euronews
06-05-2025
- Automotive
- Euronews
Ferrari starts year with racing profit but warns of tariff impact
ADVERTISEMENT Italian luxury carmaker Ferrari reported a robust first quarter with a 17% increase in its net profit to €412 million for the first three months of 2025, slightly better than expected. The carmaker also warned that US trade tariffs could hit earnings later this year. Net revenues for Q1 2025 were €1.8bn, 13% more than in the previous year. 'Another year is off to a great start,' Benedetto Vigna, CEO of Ferrari, said. 'In the first quarter of 2025, with very few incremental shipments year on year, all key metrics recorded double-digit growth, underscoring a strong profitability driven by our product mix and continued demand for personalisations.' Revenues from the car-making business were up by 11.1%, partially due to increased personalisations. Overall shipments increased by 0.9% in the first quarter, mainly driven by demand in the EMEA region and the US, but shipments to Mainland China, Hong Kong and Taiwan decreased. Revenues from sponsorship, commercial and brand were up by 32.1%. Related Ferrari raises prices for certain models in response to Trump's auto tariffs Ferrari posts strong results as luxury personalisation demand rises Outlook for 2025 For the full year 2025, the Italian carmaker expects net revenues to be up by 5% year-on-year, resulting in more than €7bn. According to its guidance, the adjusted operating profit is expected to be around or more than €2.03bn, up by 7% or more. However, the carmaker warned that this profit could be reduced if US tariffs hit the carmaker harder than expected. 'The above guidance is subject to a potential risk of 50 basis points reduction on profitability percentage margins (EBIT and EBITDA margins), in relation to the update of the commercial policy following the introduction of import tariffs on EU cars into the USA,' the statement said. At the end of March, Ferrari already announced that it would increase their prices for certain models up to 10% in response to Trump's 25% auto tariffs on European car imports. 'We continue to enrich our product offering – in line with our plans – with six new models this year, which include the newly launched 296 Speciale, 296 Speciale A and the much-anticipated Ferrari elettrica through a unique and innovative unveiling,' Vigna said. 'We are very excited about what lies ahead.' Ferrari's share prices were more than 1.8% up after the report at 4.30 p.m. CEST in the Italian trade on Euronext Milan.
Yahoo
06-05-2025
- Automotive
- Yahoo
Ferrari starts year with racing profit but warns of tariff impact
Italian luxury carmaker Ferrari reported a robust first quarter with a 17% increase in its net profit to €412 million for the first three months of 2025, slightly better than expected. The carmaker also warned that US trade tariffs could hit earnings later this year. Net revenues for Q1 2025 were €1.8bn, 13% more than in the previous year. 'Another year is off to a great start,' Benedetto Vigna, CEO of Ferrari, said. 'In the first quarter of 2025, with very few incremental shipments year on year, all key metrics recorded double-digit growth, underscoring a strong profitability driven by our product mix and continued demand for personalisations.' Revenues from the car-making business were up by 11.1%, partially due to increased personalisations. Overall shipments increased by 0.9% in the first quarter, mainly driven by demand in the EMEA region and the US, but shipments to Mainland China, Hong Kong and Taiwan decreased. Revenues from sponsorship, commercial and brand were up by 32.1%. Related Outlook for 2025 For the full year 2025, the Italian carmaker expects net revenues to be up by 5% year-on-year, resulting in more than €7bn. According to its guidance, the adjusted operating profit is expected to be around or more than €2.03bn, up by 7% or more. However, the carmaker warned that this profit could be reduced if US tariffs hit the carmaker harder than expected. 'The above guidance is subject to a potential risk of 50 basis points reduction on profitability percentage margins (EBIT and EBITDA margins), in relation to the update of the commercial policy following the introduction of import tariffs on EU cars into the USA,' the statement said. At the end of March, Ferrari already announced that it would increase their prices for certain models up to 10% in response to Trump's 25% auto tariffs on European car imports. 'We continue to enrich our product offering – in line with our plans – with six new models this year, which include the newly launched 296 Speciale, 296 Speciale A and the much-anticipated Ferrari elettrica through a unique and innovative unveiling,' Vigna said. 'We are very excited about what lies ahead.' Ferrari's share prices were more than 1.8% up after the report at 4.30 p.m. CEST in the Italian trade on Euronext Milan.
