Brunello Cucinelli (BC) investor relations material

Executive summary

• Revenues reached €1.408 billion in 2025, up 11.5% at constant exchange rates and 10.1% at current rates, with strong growth across all geographies and channels.

• Net profit rose 10.5% to €142 million, with normalized EBIT up 11.4% to €235.9 million (16.8% margin), and margins improved.

• The three-year investment plan for Made in Italy artisanal production was completed six months ahead of schedule, supporting long-term operational confidence.

• Launch of the AI-driven e-commerce platform Callimaco/Callimacus enhanced digital engagement and brand image.

• The company maintains a clear identity in luxury, craftsmanship, and sustainability, with a strong focus on exclusivity and Italian heritage.

Financial highlights

• Revenue grew 11.5% at constant exchange rates and 10.1% at current rates year-over-year, reaching €1,408 million.

• Normalized EBIT reached €235.9 million (16.8% margin), up from 16.6% the previous year; reported EBIT was €227.8 million (16.2% margin) after an €8.1 million provision.

• Net profit was €142 million, representing 10.1% of sales.

• Investments totaled €146.2 million (10.4% of turnover), with net debt at €198.4 million due to high investment and €68.8 million in dividends.

• Gross/first margin improved to 75.2% of revenues, up from 74.5% last year.

Outlook and guidance

• 2026 revenue is expected to grow around 10% at constant exchange rates, with EBIT projected to grow more than proportionally.

• Investments will normalize to about 6% of revenues, and net debt is expected to improve as investment levels return to normal.

• Communication investments will be between 6% and 6.5% of revenues.

• 2027 is expected to mirror 2026, with healthy, balanced growth and stable strategy.

• Strong start to 2026 with positive sell-outs and robust order intake for new collections.