Silvano Fashion Group (SFG1T) Q2 2025 earnings summary

Executive summary

• Revenue for the first six months of 2025 was €28.4 million, down 5.7% year-over-year, with gross profit falling 12.2% to €15.1 million.

• Net profit for the period was €6.3 million, a 19.4% decrease compared to the same period in 2024.

• Wholesale revenue declined 12.7%, while retail revenue increased 5.6% year-over-year.

• Russia and Belarus accounted for 85.7% of total sales, with Russia sales down 10.7% and Belarus up 10.6%.

Financial highlights

• Gross margin decreased to 53.1% from 57.0% year-over-year.

• Operating profit dropped 30.4% to €6.0 million; EBITDA fell 24.8% to €7.6 million.

• Earnings per share were €0.16, down from €0.20 in the prior year.

• Operating cash flow was €3.5 million, a 15.9% decrease year-over-year.

• Total assets increased 9.4% to €92.4 million as of June 30, 2025.

Outlook and guidance

• Focus remains on improving retail profitability in Russia and expanding the store network where feasible.

• Continued investment in store openings and production efficiency is planned.