Brunello Cucinelli (BC) investor relations material

Executive summary

• Q1 2026 revenues reached €369.1 million, up 14% at constant exchange rates and 8.1% at current rates, driven by robust global demand, strong retail, and positive wholesale performance.

• Retail channel grew 20.1% at constant exchange rates, with double-digit growth across Americas, Europe, and Asia; wholesale up 4.3%.

• Brand momentum is strong, with high-quality order intake for fall/winter 2026 collections and positive feedback from trade press and clients.

• New AI-powered e-commerce platform, Callimachus, is enhancing client engagement and attracting industry attention.

Financial highlights

• Q1 2026 revenue: €369.1 million, up from €341.5 million in Q1 2025, +14% at constant exchange rates, +8.1% at current rates year-over-year.

• Retail channel revenue: €238.2 million (+20.1% at constant exchange rates), 64.5% of total; wholesale: €130.9 million (+4.3%), 35.5% of total.

• Americas contributed €137.7 million (+20.3%), Asia €106.7 million (+17.8%), Europe €124.7 million (+4.4%) at constant exchange rates.

• Inventory described as modern and well-managed, with strong sell-out of spring/summer collections.

Outlook and guidance

• Revenue growth of around 10% at constant exchange rates confirmed for both 2026 and 2027.

• EBIT expected to slightly improve; investments to remain around 6% as industrial investments are completed.

• Net financial position expected to improve, with healthy visibility for the next two years.

• Guidance maintained despite geopolitical tensions, with readiness to adjust plans as needed.

• Growth expectations are supported by strong demand at the high end of luxury, positive sell-out of Spring-Summer 2026 collections, and quality Autumn-Winter 2026 order campaign.