Slide 1: FY 24 Results
FY 24 Results March 13 2025
Slide 2: Brunello Cucinelli: Executive Chairman's comment
Brunello Cucinelli Brunello Cucinelli, Executive Chairman and Creative Director of Casa di Moda, commented: “Another year has drawn to a close — one we have deemed enchanting for our Fashion House —marked by a revenue growth of +12.4% and a profit increase of +19.5% compared to the previous year, 20
Slide 3: Highlights
ahy HIGHLIGHTS AA BRUNELLO CUCINELLI
Slide 4: FY 2024 Financials Highlights
FY 2024 Financials Highlights REVENUES EBIT NET PROFIT €1,278.5 mln €211.7 mln €128.5 mln +12.2% +12.9% +19.5%* +12.4% cfx 16.6% on sales 10.1% on sales *Detail on slide 27 EUROPE AMERICAS ASIA +6.6% +17.8% +12.6% 35.7% on sales 37.3% on sales 27.0% on sales RETAIL WHOLESALE +14.0% +8.8% 66.6% on sa
Slide 5: Excellent Quantitative and Qualitative growth
Excellent Quantitative and Qualitative growth FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 “Time for the Spirit and "From here on, I would like "Nature is a gentle, "The eyes are the “Virtues are “Gentle Luxury, Harmony" to resume the journey prudent and just guide." interpreters of the soul." ne
Slide 6: Casa di Moda: Principles and Execution
CASA DI MODA: PRINCIPLES AND EXECUTION 6
Slide 7: The company's fundamental principles
The company's fundamental principles Significant expansion has been pursued with unwavering dedication to the fundamental principles that have always defined our Identity ➢ Exclusive brand positioning ➢ Distinctly Italian taste identity ➢ Entirely Italian production chain ➢ Discreet and understated
Slide 8: Key structural element and remarkable results in FY 2024
Key structural element and remarkable results in FY 2024 The following are the key structural elements of our business model, which have played a fundamental role in achieving FY 2024 remarkable results ➢ Full acknowledgement of the exclusivity and positioning of our brand, of the quality and the ve
Slide 9: Key structural element and remarkable results
Key structural element and remarkable results ➢ Discreet and elegant communication style, which embodies the core values of our brand and fosters an authentic and meaningful connection with our end clients. This is achieved through carefully curated, artisanal events designed to create a "special" b
Slide 10: The execution across all the pillars of our business model
The execution across all the pillars of our business model CREATIVITY DISTRIBUTION PRODUCTION EVENTS ORGANIZATION GENTLE LUXURY AND CONTEMPORARY LIFESTYLE BRANDLIFESTYLE 10
Slide 11: Creativity
Creativity MEN ACCESSORIES Contemporary lifestyle brand, founded on an idea of understated, refined 16.5% 46.6% elegance of the highest quality Excellent appreciation by end customers of the creativity of our collections, the quality of our craftsmanship and the wearability of our products WOMEN REA
Slide 12: Production
Production SUPPLY CHAIN NEW PRODUCTION FACILITIES DOUBLING SOLOMEO FACTORY ~400 artisan laboratories (façonists) New production facilities in the Italian territory for Ongoing construction of the new Solomeo exclusively based in Italy the production of men's outerwear and tailored factory, designed
Slide 13: Organization
Organization Growth and investment on staff in all areas, supporting growth and long-term planning Average FTE – Workforce Analysis 3,101 2,623 2,308 2,160 2,045 1,890 FY ‘19 FY ‘20 FY ‘21 FY ‘22 FY ‘23 FY ‘24 STORE EMPLOYEES & MANUAL WORKERS MANAGERS TOTAL FTE OFFICE STAFF 2019-2024 2019-2024 2019-
Slide 14: Distribution
Distribution RETAIL CHANNEL WHOLESALE CHANNEL WELL-BALANCED STRUCTURE Exclusive network of direct boutiques, to which we are Very dynamic wholesale channel, Balanced revenue distribution constantly working to offer customers spaces that are always geographically well distributed and within the diffe
Slide 15: Events: living the brand
Events: living the brand “Silent” and “Refined” communication, in the Creating an authentic and significant bond Spaces within Boutiques and Casa Cucinelli desire to share the brand’s values, where the with our end client, through events that we dedicated to hospitality, and welcoming the clients co
Slide 16: The evening of "gratitude"
The evening of "gratitude" On September 30, 2024, 2012, evening of "gratitude" was held at the Milan Stock Exchange, an evening dedicated to all those who have supported us with confidence since the 2012 listing, which had seen us enter the stock market on April 27, 2012 with a share price of 7.75 e
Slide 17: The "Gentle" Luxury
The “Gentle” Luxury “Gentle luxury is a friend who welcomes you with a sincere smile, it is someone who reaches out to you, it is creativity and genius that do not cross the line, it means finding beauty in simplicity. It is welcoming to all, it pursues fairness and is always appreciated, as it know
Slide 18: Contemporary lifestyle brand
Contemporary lifestyle brand Recognition of Brunello Cucinelli as a lifestyle brand, with a solid foundation in RTW, expression of a recognizable taste that is at once understated and elegant FY 2021 FY 2023 DESIGNER OF THE YEAR AWARD NEIMAN MARCUS FASHION In September 2021, Brunello Cucinelli AWARD
Slide 19: Lifestyle
Lifestyle “Contemporary lifestyle' strengthened with the development of new categories of Eyewear and Perfumes ➢ First EYEWEAR collection entirely branded BRUNELLO CUCINELLI ➢ First FRAGRANCIES collection, presented in March 2023, including launched in March 2024 two fragrances, compared to “cashmer
Slide 20: Business Update
Update BMA BRUNELLO CUCINELLI
Slide 21: Revenues by Region
Revenues by Region € mln FY 23 FY 24 YoY % Chg Net Revenues 1,139.4 1,278.5 +12.2% Constant exchange rates +12.4% Italy 128.9 140.9 +9.4% Europe (excl. Italy) 299.4 315.7 +5.4% Total Europe 428.2 456.6 +6.6% Americas 404.5 476.5 +17.8% Asia 306.7 345.4 +12.6% FY 2023 FY 2024 Europe Europe 37.6% 35.7
Slide 22: Region Highlights
Region Highlights EUROPE AMERICAS ASIA Strong and widespread growth across all Great potential in this region, with a growing Significant and solid growth recorded across the markets and solid performance in major demand for exclusivity, uniqueness, and special reference perimeter cities as well as
Slide 23: Revenues by Channel
Revenues by Channel € mln FY 23 FY 24 YoY % Chg Net Revenues 1,139.4 1,278.5 +12.2% Retail Channel 746.8 851.2 +14.0% Wholesale Channel 392.6 427.3 +8.8% FY 2023 FY 2024 Wholesale Wholesale Channel Channel 34.5% 33.4% Retail Retail Channel Channel 65.5% 66.6% 23
Slide 24: Channel Highlights
Channel Highlights RETAIL CHANNEL 2024 closed with strong results in the Retail channel, recording double-digit growth in all quarters and a +15.5% increase in Q4, driven by comparable sales growth and selected openings Boutique network comprises 130 boutiques (125 as of December 31, 2023) and 50 ha
Slide 25: Financials
Financials AA BRUNELLO CUCINELLI
Slide 26: Highlights
Highlights The year 2024 marks a very important moment in the history of our Casa di Moda Healthy revenue growth of +12.2% reflecting two essential factors: ➢ the expansion of turnover ➢ the consolidation of the brand’s image worldwide Operating Result stands at 211.7 million euros, increasing by +1
Slide 27: Income Statement
Income Statement € mln FY 2023 FY 2024 Ch. % Revenues 1,139.4 1,278.5 + 12.2% First Margin 825.8 953.0 + 15.4% % 72.5% 74.5% + 200 b.p. SG&A -499.5 -588.3 +17.8% % 43.8% 46.0% + 220 b.p. EBITDA 326.3 364.7 +11.8% % 28.6% 28.5% - 10 b.p. D&A -138.8 -153.0 10.2% FY 24 NET PROFIT increasing 19.5% with
Slide 28: Income Statement Highlights
Income Statement Highlights First Margin +15.4% increase, with a margin of 74.5% compared to 72.5% last year, mainly driven by: ➢ expansion of in-house production ➢ positive sales mix (distribution channels, geographical areas, and product mix) Growth in internal production linked to the opening and
Slide 29: Income Statement Highlights
Income Statement Highlights € mln Personnel cost 2,623 Total FTE 3,101 Investments in Communication 112 Managers & Middle Mgmt. 93 % on sales 18.3% 926 697 Manual 17.1% Workers 233.5 Store 7.2% 1,833 Employees & 2,063 6.9% 195.0 Office Staff 92.3 78.9 FY 23 FY 24 FY 23 FY 24 FY 23 FY 24 Rent cost D&
Slide 30: Total Net Financial Expense details
Total Net Financial Expense details € mln FY 23 FY 24 delta Financial charges/(income) from ordinary 3.7 3.7 0.0 operations Financial charges/(income) from lease 12.9 20.2 7.3 * operations Financial charges/(income) for derivative 5.6 3.0 -2.6 instruments hedging currency risk Financial charges/(inc
Slide 31: Net Working Capital
Net Working Capital € mln TRADE RECEIVABLES FY 2023 FY 2024 delta The increase of 5.0% with respect to FY 2023 is due to the wholesale Trade Receivables 78.2 82.1 3.9 channel 8.8% growth, with an extremely healthy situation overall Inventories 287.3 370.0 82.7 Trade Payables -166.2 -169.2 -3.0 TRADE
Slide 32: Investments
Investments € mln 109.5 79.1 Others, including 61.6 Production/ Logistics/IT/ Digital 47.8 Commercial 31.3 47.9 FY 23 FY 24 Commercial Selected openings, major boutique expansions, dedicated spaces in Luxury Department Stores, renewal and expansion of our showrooms worldwide, support of development
Slide 33: Investments and Financial Indebtedness
Investments and Financial Indebtedness € mln Investments focused on enhancing our Casa di Moda image and lifestyle, modernizing showrooms and boutiques, expanding the Solomeo headquarters, and strengthening production with a new factory in Gubbio and the development of the Penne site. These faciliti
Slide 34: Outlook
Outlook Sales in the first part of 2025 are very positive, with a very interesting sell-out of the Spring-Summer 2025 collections that confirms the valuable feedback received during the presentations last September. The order intake for the new Fall-Winter 2025 Collections has shown particularly pos
Slide 35: Annex
BRUNELLO CUCINELLI ANNEX
Slide 36: Detailed Income Statement and Balance Sheet Statement
Detailed Income Statement and Balance Sheet Statement € mln FY 2023 FY 2024 FY 2023 FY 2024 Trade receivables 78.2 82.1 Revenues 1.139,4 1.278,5 Inventories 287.3 370.0 Consumption Costs (114,3) (101,8) Trade payables (-) (166.2) (169.2) Cost of raw material and consumables (168,4) (174,4) Other cur
Slide 37: Board of Directors
Board of Directors Brunello Cucinelli Excutive Chairman and Creative Director Riccardo Stefanelli C.E.O. Luca Lisandroni C.E.O. Camilla Cucinelli Vice Chairman Carolina Cucinelli Vice Chairman Alessio Piastrelli Director Giovanna Manfredi Director Andrea Pontremoli Director Investor Relations & Corp
Slide 38: Forward looking statements disclaimer
This presentation may contain forward looking statements which reflect Management’s current views and estimates. The forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward looking statements. Potenti