Net financial debt increased from €152.4 million to €193.9 million at end-2024 (including IFRS 16 impact). The ready-to-wear division recorded revenues of €95.5 million, a decline of 31.8 percent. The footwear and leather goods division posted revenue of €76.8 million, a decline of 11.4 percent, Efe said in a press release.
Italy’s Efe reported €155 million (~$179.8 million) in revenue for 9M 2025, down 25.4 percent year-on-year, with EBITDA at negative €11.9 million. Net financial debt increased to €193.9 million. Ready-to-wear and footwear divisions declined by 31.8 percent and 11.4 percent, respectively. AFE also postponed its interim management report amid a negotiated crisis resolution process.
By region, sales in Italy, which accounted for 40.2 percent of total turnover, fell 30.3 percent year on year to €62.4 million. The wholesale channel declined by 36 percent, while retail declined by 12 percent. In Europe (except Italy), revenues declined 17.1 percent to €52.8 million, accounting for 34.1 percent of total turnover. Sales in Asia and the Rest of the World fell 25.6 percent to €31.4 million, while sales in the Americas, which contributed 5.5 percent of total turnover, declined 27 percent.
By distribution channel, all three distribution channels saw declines: wholesale (65.8 percent of total turnover) fell 25.8 percent to €102 million. Retail (32.8 percent of total turnover) fell 18.6 percent to €50.8 million. Royalty revenue fell 69.1 percent to €2.2 million, mainly due to the absence of royalties from Product Line 3 of the Moschino brand following its sale in 2024.
The ready-to-wear division reported negative EBITDA of €15.8 million, compared with positive €83.1 million a year earlier. The footwear and leather goods division posted positive EBITDA of €3.9 million, compared to €7.9 million in 2024.
As of September 30, net financial debt, including International Financial Reporting Standard (IFRS) 16 impacts, totaled €193.9 million, compared to €152.4 million at year-end 2024.
The group also announced the postponement of the approval and publication of its interim management report for this period. The report, originally scheduled for release on November 14, 2025, will be postponed to a later date, yet to be confirmed.
It said the delay is due to the ongoing negotiated crisis resolution process (CNC) initiated by Efe and its subsidiary Pollini SPA on October 2, 2025. The purpose of the postponement is to allow sufficient time to complete the industrial recovery plan required as part of the CNC process, which has implications for finalizing the interim report.
Fibre2Fashion News Desk (SG)
