Brunello Cucinelli (BC) H2 2025 earnings summary

Executive summary

• Full-year 2025 revenues reached €1.408 billion, up 11.5% at constant FX and 10.1% at current FX, 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 improving year-over-year.

• Major investments in artisanal production and digital innovation, including the launch of an AI-driven e-commerce platform, were completed ahead of schedule.

• The company maintains a clear luxury positioning, with a balanced global footprint and a focus on exclusivity, craftsmanship, and sustainability.

• Received international recognition, including the British Fashion Council's Outstanding Achievement Award and inclusion in TIME 100 Climate 2025.

Financial highlights

• Revenues reached €1,408.0 million, up 11.5% at constant FX and 10.1% at current FX compared to 2024.

• Normalized EBIT was €235.9 million (16.8% margin), up 11.4%; reported EBIT €227.8 million (16.2% margin), up 7.6%.

• Net profit of €142 million, representing 10.1% of sales, in line with the previous year.

• 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.

• EBITDA increased by 12.0% to €408.4 million (29.0% margin); first margin improved to 75.2%.

Outlook and guidance

• 2026 revenue expected to grow around 10% at constant FX, with EBIT to grow more than proportionally.

• Investments to normalize at around 6% of revenues, with communication investments between 6% and 6.5%.

• Inventory expected to remain stable at 28% of revenues; net debt to improve as investments decrease.

• 2027 outlook projects similar healthy, balanced growth and slight EBIT improvement.

• FX impact estimated at 1.5–2% for the full year, higher in Q1 but normalizing from April.