The Italian shoe provider Geox Spa presented its results for the first half of 2025 on Wednesday. Accordingly, he recorded a decline in sales by 4.7 percent to 305.3 million euros. Adjusted for the effects of the branch closures in China and the United States, sales have dropped by 1.9 percent, the company said in a press release. As in the previous year, the gross margin was 51.2 percent.
A week earlier, the company Francesco di Giovanni had appointed the new Chief Executive Officer (CEO). He succeeded Enrico Mistron. With this appointment, Geox claims to accelerate his transformation.
The results influence difficult market conditions
“The first half of 2025 was still influenced by complex market conditions. The macroeconomic indicators confirm a persistently weak consumer dynamics,” said management in a message. This is “due to a low trust and a resulting significant authorization to grow”.
Despite the difficult environment, the company wants to continue to concentrate fully on the implementation of the initiatives provided for in the business plan. Geox relies on a “rigorous and focused approach” and focuses on the most profitable markets, process optimization and cost control.
In the first half of the year, the first phase of the capital increase was successfully completed by 30 million euros, the company said. This is an element of the financial measures that have been adopted and has received full support from the shareholder: inside. “This result is a strong motivation for the company and confirms the path chosen,” says a statement.
Geox can significantly reduce the half -year loss
Despite the decline in sales in the first half of the year, the result was progressing in the first half of the year. The result, which was adjusted for special effects before interest, taxes and depreciation (EBITDA), which was 4.0 million euros in the previous year, rose to 8.6 million euros. The adjusted operating profit was 0.6 million euros after an operational loss of 5.5 million euros had been booked in the first half of 2024. The designated net loss decreased from 15.4 to 4.9 million euros.
The Italian home market contributed 29.6 percent of group sales. In the same period last year, its share was 27.8 percent. Overall, the proceeds in Italy rose by 1.6 percent to 90.5 million euros.
The share of sales of the other European countries increased from 45.7 to 47.4 percent. In these markets, revenues fell by 1.1 percent to a total of 144.7 million euros. According to the company, the minus was mainly due to the negative development in the roof region and on the Iberian peninsula.
The turnover in other markets was 70.1 million euros. This corresponded to a decline of 17.5 percent (currency -adjusted -17.8 percent) compared to the first half of 2024. The company justified the losses with declining sales in both multimarken and direct sales. These were therefore mainly due to the withdrawal from the USA and China.
In the first half of the year, revenues with shoes decreased by 3.8 percent (currency -adjusted -4.0 percent) to EUR 280.7 million. This category thus accounted for 91.9 percent of the group sales. The turnover with clothing decreased by 13.6 percent (currency -adjusted -14.0 percent) to 24.6 million euros.
This article was used with digital tools translated.
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