Fope (FPE) H1 2025 TU earnings summary

Executive summary

• Net revenues reached €43.0 million in H1 2025, up 45.2% year-over-year, reflecting strong growth in both core and emerging markets.

• Expansion driven by international strategy, with notable performance in America, Europe, Japan, South Korea, and Southeast Asia.

• Direct business model with over 700 stores in 50 countries, focusing on luxury multi-brand retailers and mono-brand stores in key cities.

Financial highlights

• Net revenues increased by €13.4 million compared to H1 2024, despite a 16% average price-list increase due to higher gold prices.

• Financial hedging neutralized gold price volatility, protecting sales margins.

Outlook and guidance

• Order intake at the start of H2 2025 is trending upward and aligns with budget forecasts.

• Management expects a positive close to the 2025 financial year, supported by stable US market demand and strong dealer network collaboration.