PresentationOperator Good morning everyone. Thank you for joining the Ermenegildo ZEGNA Group Q3 2025 revenues Call. Please note that today's material and presentation are available under the zegnagroup.com website. Joining us today is the ZEGNA Group senior management team, including Gianluca Tagliabue, Group CFO and COO, and Paola Durante, Chief of External Relations. Before we begin, we need to point out that the team will make certain forward-looking statements during the call. The group actual result ...

Ermenegildo Zegna (NYSE:ZGN) Q3 2025 Earnings Call October 23, 2025 07:00 AM ET Company ParticipantsGianluca Tagliabue - CFO and COOBhumi Kanabar - Equity Research AssociateAnthony Charchafji - Equity Research AssociatePaola Durante - Chief of External RelationsNicholas Sylvia - Equity Research AssociateChiara Battistini - Head of European Luxury ResearchConference Call ParticipantsDaria Nasledysheva - AnalystAdrien Duverger - Equity Research AnalystChris Huang - AnalystOperatorHello everyone, and thank you ...

Ermenegildo Zegna (NYSE:ZGN) Q3 2025 Earnings Call October 23, 2025 07:00 AM ET Company ParticipantsGianluca Tagliabue - CFO and COOBhumi Kanabar - Equity Research AssociateAnthony Charchafji - Equity Research AssociatePaola Durante - Chief of External RelationsChiara Battistini - Head of European Luxury ResearchConference Call ParticipantsDaria Nasledysheva - AnalystAdrien Duverger - Equity Research AnalystNicole Silvia - AnalystChris Huang - AnalystOperatorHello everyone, and thank you for standing by. Th ...

Ermenegildo Zegna (NYSE:ZGN) Q3 2025 Earnings Call October 23, 2025 07:00 AM ET Speaker0Hello, everyone, and thank you for standing by. The Menageur D'Ozenia Group Q3 twenty twenty five Revenues Call will be beginning in just a few minutes' time. We thank you for your patience, and we will begin shortly. Good afternoon, good morning, everyone. Thank you for joining the Amano Gildo Xenia Group Q3 twenty twenty five Revenues Call.Please note that today's material and presentation are available under the xenia ...

Ermenegildo Zegna (NYSE:ZGN) Q3 2025 Earnings Call October 23, 2025 07:00 AM ET Speaker4Hello everyone, and thank you for standing by. The Ermenegildo Zegna Group Q3 2025 revenue call will be beginning in just a few minutes' time. We thank you for your patience, and we will begin shortly. Good afternoon, good morning everyone. Thank you for joining the Ermenegildo Zegna Group Q3 2025 revenues call. Please note that today's material and presentation are available under the zegnagroup.com website. Joining us ...

Q3/9M 2025 REVENUES Unaudited figures October 23, 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 or organic growth). The Group's management believes that these non-IFRS financial measures provide useful and relevant information regarding the Group's financial performance ...

Oct 23, 2025 6:02 AM Eastern Daylight Time Ermenegildo Zegna Group Revenues Reach €1.33B in the First Nine Months of 2025; Acceleration in Q3 Driven by Robust DTC Growth Across All Brands Share MILAN--(BUSINESS WIRE)--Ermenegildo Zegna N.V. (NYSE:ZGN) (the "Company†and, together with its consolidated subsidiaries, the "Ermenegildo Zegna Group†or the "Group†) today announced unaudited revenues of €1,325.9 million for the first nine months of 2025, -2.3% YoY from €1,357.4 million in the first nine months of ...

Investors looking for stocks in the Retail - Apparel and Shoes sector might want to consider either Ermenegildo Zegna N.V. (ZGN) or On Holding (ONON) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Score ...

Core Viewpoint - The comparison between Ermenegildo Zegna N.V. (ZGN) and On Holding (ONON) indicates that ZGN presents a better value opportunity for investors in the Retail - Apparel and Shoes sector [1]. Valuation Metrics - ZGN has a forward P/E ratio of 21.43, significantly lower than ONON's forward P/E of 61.84 [5]. - The PEG ratio for ZGN is 2.20, while ONON's PEG ratio stands at 3.05, suggesting ZGN is more reasonably priced relative to its expected earnings growth [5]. - ZGN's P/B ratio is 3.58, compared to ONON's P/B of 17.01, indicating ZGN is valued more favorably against its book value [6]. Earnings Estimates - ZGN currently holds a Zacks Rank of 2 (Buy), reflecting positive earnings estimate revisions, while ONON has a Zacks Rank of 3 (Hold) [3]. - The stronger estimate revision activity for ZGN suggests an improving earnings outlook compared to ONON [7]. Value Grades - ZGN has been assigned a Value grade of B, whereas ONON has received a Value grade of F, highlighting ZGN's superior valuation metrics [6].

Financial Data and Key Metrics Changes - In H1 2025, revenues reached €928 million, a decrease of 2% organically, despite a strong 6% organic growth in DTC channels [3][4] - Gross profit was €626 million, with a margin of 67.5%, reflecting a 110 basis points improvement driven by a better channel mix [4][5] - Adjusted EBITDA for the group was €69 million, with an EBITDA margin of 7.4%, down 100 basis points compared to H1 2024 [6][7] - Net profit increased to €48 million, up 53% from €31 million in the previous year, attributed to higher financial income and foreign exchange gains [9][10] - Capital expenditure (CapEx) was €54 million, representing about 6% of revenues, primarily focused on store network development [11] Business Line Data and Key Metrics Changes - The Zegna segment generated an adjusted EBITDA of €94 million, with a margin of 14.3%, up from 12.8% in H1 2024, due to higher operating leverage [8] - Thom Browne's adjusted EBITDA fell to €4 million from €20 million in H1 2024, driven by a significant revenue decline in the wholesale channel [8] - Tom Ford Fashion recorded an adjusted EBITDA loss of €90 million, worsening from a €12 million loss last year, due to planned investments in store expansion and IT infrastructure [9] Market Data and Key Metrics Changes - The company noted strong momentum in Europe, the Middle East, and the Americas, while the Greater China Region (GCR) remains challenging and volatile [16] - There are early signs of improvement in GCR, but the company remains cautious about drawing conclusions from recent trends [16] Company Strategy and Development Direction - The company is focusing on expanding its DTC network, with new store openings in key markets like Miami and Shanghai [14] - A marketing campaign for Zegna's Fall-Winter 25 collection has been launched, emphasizing the brand's heritage and new fabric innovations [13] - The company is committed to maintaining strategic investments while managing costs, particularly in the context of a volatile market environment [16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging and volatile sector environment but expressed confidence in the actions taken to protect profitability [7][16] - The company is planning for a cautious approach in China, anticipating a "new normal" rather than a rapid recovery [59] Other Important Information - Free cash flow absorption was €23 million in H1 2025, compared to €7 million in the previous year, driven by lower operating cash flow [11] - The net debt at the end of June was approximately €92 million, consistent with the previous reporting period [12] Q&A Session Summary Question: Current performance in terms of margin and expectations for H2 - Management explained that the gross margin improvement is linked to the DTC revenue growth and emphasized the importance of maintaining quality in DTC sales [22][23] Question: Opportunities for margin improvement in the Zegna segment - Management indicated that Zegna's margins could trend between 13% and 14% for the year, with a long-term goal of reaching 15% [32] Question: Current trends in the Chinese market - Management noted early signs of improvement in GCR but remained cautious about the overall recovery, emphasizing the need for a stable environment before making definitive conclusions [16][59] Question: Pricing strategy and consumer response - Management confirmed that price increases have been implemented to offset costs and tariffs, with no significant negative consumer response observed [53][56]