Brunello Cucinelli (BC) H2 2025 earnings summary

Executive summary

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

• Major three-year investment plan for artisanal production and technology was completed six months ahead of schedule, totaling €146.2 million (10.4% of turnover).

• Launch of the AI-driven e-commerce platform (Callimaco/Callimacus) and global recognition, including a documentary film and industry awards, enhanced brand image.

• Net debt rose to €198.4 million, reflecting high investment and €68.8 million in dividends distributed.

Financial highlights

• Revenues reached €1,408.0 million, up 10.1% year-over-year (+11.5% at constant FX).

• Normalized EBIT was €235.9 million (16.8% margin), up 11.4%; reported EBIT €227.8 million (16.2% margin) after an €8.1 million provision.

• Net profit of €142 million, representing 10.1% of sales.

• EBITDA increased by 12.0% to €408.4 million (29.0% margin).

• Investments totaled €146.2 million (10.4% of turnover), with net debt at €198.4 million due to investments and €68.8 million in dividends.

Outlook and guidance

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

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

• Inventory and net debt expected to remain stable or improve as investment levels return to normal.

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

• Strong start to 2026 with positive sell-outs and robust order intake for new collections.