The company’s net disadvantage in H1 was € 57 million (~ $ 66.12 million), H1 2024 has a sharp reversal with € 6 million profit in 2024. Disadvantages mainly include € 41 million high -payables associated with property in China and Korea. Except for this, the adjusted net disadvantage was € 16 million, Salvatore Ferrgamo said in a press release.
The wholesale section was the main drag, in which H1 revenue fell by 17.9 percent to € 105 million, while the Sales of Direct-to-Consumer (DTC) declined by 6.5 percent to € 357 million.
Salvatore Ferrgamo has reported revenue of € 474 million (~ $ 549.84 million) in H1 2025, which is 9.4 percent yoyy with a net loss of € 57 million (~ $ 66.12 million) due to weak Asia Pacific demand. Wholesale sales fell 17.9 percent, DTC fell 6.5 percent, and Ebitda declined by 38.1 percent. Q2’s revenue declined by 14.6 percent, although Latin America showed development. Strategic repairing efforts are going on.
Gross profit fell by 15 percent to € 321 million, with margin narrowness to 72.1 percent to 67.7 percent. The company’s Ebitda fell 38.1 percent to € 73 million, while the adjusted Ebit H1 became negative in 2024 at € 38 million vs. € 28 million.
In terms of regional performance, Asia Pacific Sales recorded a decline of 16.3 percent at continuous exchange rates, while Europe and Japan also saw a decline. Latin America was the only bright place, which was 11.6 percent based on continuous currency. Footwear sales, the largest section of Ferrgamo, fell 13.3 percent.
Category-wise, footwear sales remained a leading category with € 201.8 million, accounting for 43.6 percent of the total net sales. This marked the fall of 13.3 percent YOY on continuous exchange rates. Finely at € 199.1 million (43.1 percent of net sales) on leather goods, just 0.2 percent yoy below at frequent exchange rates.
Meanwhile, the apparel sector generated € 27.2 million (5.9 percent of the sale), which reflects 8.6 percent yoy drop at continuous exchange rates. Silk and other products were brought to € 34.3 million (7.4 percent of net sales), which is 6.1 percent below continuous exchange rates.
In the second quarter (Q2) of 2025, its revenue was € 253 million (~ ~ $ 293.48 million), 14.6 percent yoy at current exchange rates and 11.8 percent at continuous rates, mainly affected by the deteriorating wholesale channel that fell 34.3 percent. In Q2, DTC revenue fell by 5.4 percent on continuous exchange rates.
The company cited a deteriorating consumer environment in Asia Pacific and Japan – as a high base in low tourist expenses and Q2 2024 – as major factors. The areas with Europe, the Middle East, and Africa (EMA) cut the wholesale weakness, with a fall of 19.5 percent in net sales and Japan recorded a 12.6 percent decline. Only Latin America showed flexibility, in which Q2 net sales are continuously growing 11.2 percent at exchange rates, inspired by strong DTC speed.
Ferrgamo focused its focus on strategic repairing, including a refreshing product strategy, a sharp communication story and more efficiency in marketing expenses. Online sales from its official website saw double -digit growth in H1, and the brand is moving forward to develop its store renovation plan and inventory control, which align to develop the market situation.
Fibre2fashion news desk (sg)
