Ermenegildo Zegna NV (NYSE:ZGN)

Full Year 2025 Ermenegildo Zegna NV Earnings Call Transcript

Mar 20, 2026 / 12:00 PM GMT

Release Date Price: $9.68 (+4.65%)

Transcript

Key Points

Positve

Ermenegildo Zegna NV (ZGN) reported a 20% increase in profit, reaching €109 million, up from €91 million last year.
The company achieved a gross margin of 67.5%, an improvement of 90 basis points, driven by a favorable channel mix.
The launch of the Tom Brown sneaker collaboration with Aix exceeded expectations in terms of social media visibility and revenue.
Ermenegildo Zegna NV (ZGN) maintained a positive free cash flow of €82 million, despite significant capital expenditures.
The company reported a net cash surplus of €52 million at the end of the year, compared to a net financial indebtedness of €94 million the previous year.

Negative

The Middle East conflict has created uncertainties, impacting the company's operations and revenue expectations in the region.
Tom Ford fashion segment reported a loss at the adjusted EBIT level, with a €16 million loss for the year.
Tom Brown's segment was negatively impacted by a reduction in wholesale revenues, achieving only €1 million of adjusted EBIT.
The company faces a headwind of approximately 2% from currency fluctuations, affecting overall profitability.
SG&A expenses increased to 53.9% of revenues, up from 51.8% last year, due to investments in talent, systems, and store network expansions.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ZGN.N - Ermenegildo Zegna NV
Full Year 2025 Ermenegildo Zegna NV Earnings Call
Mar 20, 2026 / 12:00PM GMT

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Presentation
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Hello everyone and thank you for standing by. The meningio Azania Group FY 2025 preliminary revenues call will be beginning in just a few minutes' time. We thank you for your patience and we will begin soon.

Hello everyone and thank you for standing by. Today's call will begin in one minute.

Good afternoon, good morning everyone.

Thank you for joining the Ameniordo Zania Group FY 2025 preliminary revenues call. Please note that today's material and presentation are available under the Zania Group.com website.

Joining us today, the Zania Group leadership team, including Gildo Zania, the group executive Chairman, and Jean-Lucca Tagliabui, group CEO.

Before we begin, we need to point

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