)

Ermenegildo Zegna (ZGN) investor relations material
Ermenegildo Zegna H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
H1 2025 revenues were €928 million, down 2% organically and 3% year-over-year, with DTC organic growth of 6%.
Net profit rose 53% to €48 million, with profit margin up to 5.2% from 3.3% in H1 2024, driven by higher financial income and FX gains.
Adjusted EBIT was €69 million (7.4% margin), down from €81 million (8.4%) in H1 2024, impacted by higher SG&A and currency effects.
Strategic investments focused on expanding the DTC store network and supporting long-term growth projects.
Strategic transformation at Thom Browne and Tom Ford Fashion weighed on group results.
Financial highlights
Gross profit margin improved to 67.5% (up 110bps), driven by a higher DTC channel mix (82% of branded revenues).
SG&A costs were €502 million, with incidence on revenue rising to 54.1% from 51.8%.
CapEx was €54 million, mainly for DTC network and new shoe plant in Parma.
Free cash flow was negative €23 million, mainly due to investments in store network expansion.
Net debt at June end was €92 million, stable versus December 2024.
Outlook and guidance
Management remains confident in achieving 2027 targets despite sector and currency headwinds.
Low single-digit organic revenue growth expected for the full year, with consensus reflecting currency impacts.
Adjusted EBIT consensus of $173 million is seen as realistic.
Zegna segment margin expected between 13%-14% for 2025, with a long-term target of 15%.
Main risk for H2 and 2026 outlook is continued volatility and slow recovery in China.
Next Ermenegildo Zegna earnings date

Next Ermenegildo Zegna earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
One of the leading names in high-end fashion
Ermenegildo Zegna is a luxury fashion brand that specializes in men's clothing and accessories. The company was founded in 1910 in Italy and has since become one of the leading names in the high-end fashion industry. Some of Zegna’s competitors include Kering, Brunello Cucinelli, and LVMH.
The business model
Ermenegildo Zegna's business model is based on creating and selling high-quality, luxury products to a discerning customer base. The company's product offerings include a wide range of men's clothing, including suits, jackets, trousers, and knitwear, as well as accessories such as bags, shoes, and belts. Ermenegildo Zegna's focus on quality materials and craftsmanship has helped it to establish a reputation for excellence in the fashion industry.
How Zegna makes money
Ermenegildo Zegna generates revenue primarily through sales of its products, both through its own network of retail stores and through third-party retailers. The company's retail stores are located in major cities around the world, including Milan, London, and New York. In addition, Ermenegildo Zegna also generates revenue through licensing agreements, which allow other companies to use its brand name and logo on products such as eyewear and fragrances.
Interesting facts about Zegna
Ermenegildo Zegna is a family business that has been owned and operated by the Zegna family since its inception in 1910. The company has a strong culture of family values, with a focus on preserving the family legacy and maintaining the highest standards of quality and craftsmanship in its products.
The Zegna family has played an active role in the company's operations throughout its history. Today, the company is led by the fourth generation of the Zegna family, with Gildo Zegna serving as the current CEO.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage