Ermenegildo Zegna N.V. (NYSE:ZGN) Q4 2024 Earnings Conference Call January 27, 2025 8:00 AM ET Company Participants Gildo Zegna - Chief Executive Officer Gianluca Tagliabue - Chief Financial Officer Paola Durante - Chief of External Relations Conference Call Participants Anthony Charchafji - BNP Paribas Oliver Chen - TD Cowen Louise Singlehurst - Goldman Sachs Natasha Bonnet - Morgan Stanley Daria Nasledysheva - Bank of America Operator Good afternoon and good morning, everyone. Thank you for joining us on ...

FY/Q4 2024 PRELIMINARY REVENUES Unaudited figures January 27, 2025 1 Disclaimer Non-IFRS Financial Measures The Group's management monitors and evaluates operating and financial performance using several non-IFRS financial measures including: revenues on a constant currency basis (constant currency) and revenues on an organic growth basis (organic growth or organic). The Group's management believes that these non-IFRS financial measures provide useful and relevant information regarding the Group's financial ...

Ermenegildo Zegna N.V. (NYSE:ZGN) Q3 2024 Earnings Conference Call October 22, 2024 8:00 AM ET Company Participants Gildo Zegna – Chairman and Chief Executive Officer Gianluca Tagliabue – Chief Operating Officer and Chief Financial Officer Paola Durante – Chief of External Relations Conference Call Participants Oliver Chen – TD Cowen Anthony Charchafji – BNP Paribas Chris Huang – UBS Ben Rada Martin – Goldman Sachs Operator Good afternoon, or good morning, everyone. Before we begin, I need to point out that ...

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Company and Industry Overview * **Company**: Ermenegildo Zegna N.V. (NYSE:ZGN) * **Industry**: Luxury fashion and accessories * **Timeframe**: H1 2024 * **Key Challenges**: Deep normalization phase in the luxury sector, volatile and challenging global environment Core Points and Arguments * **One Brand Strategy**: Zegna is doubling down on its One Brand strategy, focusing on targeted audience engagement, evolving clientele experience, and transforming collections into iconic products. * **VILLA Zegna New York**: Launched to celebrate Zegna's heritage and engage with value customers through immersive experiences and exclusive events. * **Thom Browne**: Significant changes and reinforcement of the management team, with a focus on strengthening the organization in China, headquarters, and other regions. * **Tom Ford**: Haider Ackermann appointed as new Creative Director, expected to contribute to the brand's long-term ambition. * **Filiera**: Continued investment in Filiera to strengthen production capacity and resilience. * **China**: Challenging and volatile environment, but with positive traction from potential and loyal customers. Plans for store development and expansion are being reconsidered. * **Financial Results**: 6% revenue growth year-over-year driven by Zegna brand and Tom Ford consolidation. Gross profit margin improved by 220 bps to 66.4%. Adjusted EBITDA down 33% compared to H1 2023 due to top-line decline at Thom Browne and costs at Tom Ford Fashion. * **Investments**: Continued investment in key projects, including the new shoe factory in Parma, Italy, and store network expansion. Other Important Points * **Channel Mix**: Direct-to-consumer (DTC) revenue generated 76% of branded revenues, up from 72% a year ago. * **Inventory Management**: Improved inventory management contributed to the gross profit margin improvement. * **Marketing Expenses**: Increased to 7% of revenues due to events and fashion shows in the first half of the year. * **Capital Expenditures (CapEx)**: Reached EUR60 million in H1 2024, with a focus on store network expansion and production investments. * **Trade Working Capital**: Reached EUR476 million at the end of June, with stable trade receivables and inventory levels. * **Net Financial Indebtedness**: Reached EUR66 million at the end of June due to the acquisition of a stake in Thom Browne and the Korean businesses in Zegna and Thom Browne.

Ermenegildo Zegna N.V. TABLE OF CONTENTS Page BOARD OF DIRECTORS 2 CERTAIN DEFINED TERMS 2 INTRODUCTION 3 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 4 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 6 Overview 6 Results of Operations 8 Results by Segment 17 Liquidity and Capital Resources 22 Off-Balance Sheet Arrangements 28 Non-IFRS Financial Measures 29 Qualitative and Quantitative Information on Financial Risks 39 Recent Developments 39 SEMI-ANNUAL CONDENSE ...

Ermenegildo Zegna N.V. (NYSE:ZGN) Q2 2024 Earnings Conference Call July 25, 2024 8:00 AM ET Company Participants Ermenegildo Zegna - Chairman and CEO Gianluca Tagliabue - CFO and COO Paola Durante - Chief of External Relations Conference Call Participants Anthony Charchafji - BNP Paribas Chris Huang - UBS Oliver Chen - TD Cowen Louise Singlehurst - Goldman Sachs Operator Good morning, everyone. Welcome to the Ermenegildo Zegna Group's First Half 2024 Preliminary Revenue Conference Call. Let me introduce the ...

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Company Participants Paola Durante - IR Ermenegildo Zegna - Chairman and CEO Gianluca Tagliabue - CFO and COO Chris Huang - UBS Anthony Charchafji - BNP Paribas Louise Singlehurst - Goldman Sachs Hello all and welcome to the Ermenegildo Zegna First Quarter 2024 Revenue. My name is Lidia and I will be your operator today. [Operator Instructions] Thank you and good afternoon, good morning to everyone. Thank you for being here with us for this -- Ermenegildo Zegna Group first quarter 2024 revenues conference c ...