Piquadro (PQ) H2 25/26 earnings summary

Executive summary

• Consolidated revenues for FY ended March 31, 2026, were €180.5 million, down 1.7% year-over-year.

• Net profit rose 11.2% to €12.9 million compared to €11.6 million in the prior year.

• EBITDA was €31.2 million, nearly flat from €31.4 million a year earlier.

• EBIT declined to €13.3 million from €16.4 million, an 18.9% decrease year-over-year.

Financial highlights

• Adjusted Net Financial Position improved to €20.7 million from €12.9 million, while reported NFP was negative €38.8 million due to IFRS 16 lease impacts.

• Equity increased 8.9% to €75.0 million.

• Return on equity (ROE) improved to 17.18% from 16.83%.

• Return on sales (ROS) and return on investment (ROI) declined by 17.5% and 29.4%, respectively.

• Amortization and depreciation rose 21.2% to €18.8 million.

Outlook and guidance

• Management expects improved operational profitability and cash generation in FY 2026/27, driven by growth in direct-to-consumer channels and completed restructuring at Maison Lancel.

• Confidence in outperforming FY 2025/26 results, especially in retail and digital channels.