Piquadro (PQ) H1 25/26 earnings summary

Executive summary

• Revenues from sales reached €88.4 million for the half-year ended 30 September 2025, up 0.7% year-over-year, with growth in The Bridge and Lancel brands offsetting a decline in Piquadro brand sales.

• EBITDA increased by 8.2% to €16.0 million, and net profit rose 3.1% to €5.1 million compared to the same period last year.

• The Group maintained strong direct sales performance, especially in retail and e-commerce channels, despite a volatile macroeconomic environment.

Financial highlights

• Adjusted EBITDA was €9.0 million, up 1.3% year-over-year.

• EBIT was €7.54 million, nearly flat year-over-year.

• Net financial position deteriorated to negative €54.5 million, mainly due to new and renewed lease agreements.

• Equity stood at €66.7 million at 30 September 2025.

• Cash and cash equivalents at period end were €26.9 million.

Outlook and guidance

• Management expects to continue growth by focusing on end customers, product innovation, and leveraging financial and capital strength.

• The Group remains vigilant regarding macroeconomic uncertainties and supply chain disruptions.