Piquadro (PQ) H1 24/25 earnings summary

Executive summary

• Revenues increased by 2.1% year-over-year to €87.8 million for the half-year ended 30 September 2024, driven by growth in the Lancel and The Bridge brands, while Piquadro brand revenues remained stable.

• Group net profit rose 20.1% year-over-year to €5.0 million, reflecting improved operating efficiency and cost control.

• Adjusted EBITDA grew 4.1% to €8.9 million, and adjusted EBIT increased 12.7% to €6.9 million, both excluding IFRS 16 effects.

• EBITDA was €14.8 million (+0.9%), and EBIT rose 12.2% to €7.5 million.

• The group demonstrated resilience amid a challenging economic and sector environment, leveraging the strength of its three brands.

Financial highlights

• Revenue: €87.8 million (+2.1% year-over-year).

• EBITDA: €14.8 million (+0.9%); adjusted EBITDA: €8.9 million (+4.1%).

• EBIT: €7.5 million (+12.2%); adjusted EBIT: €6.9 million (+12.7%).

• Net profit: €5.0 million (+20.1%).

• Net financial position: negative €32.1 million (including IFRS 16); adjusted NFP positive at €6.1 million, down from €10.4 million a year earlier.

Outlook and guidance

• Management expects to continue growth by focusing on customer engagement, innovation, and leveraging financial strength, despite a volatile macroeconomic environment.

• The group aims to maintain positive results aligned with recent performance, despite ongoing market volatility.