GENTILI MOSCONI/ Profit drops to 800,000 euros in 2024, revenues down 17.9%

Gentili Mosconi closed 2024 with a profit of 800,000 euros, down from 5.2 million euros in 2023. Revenues amounted to €41.5 million, a decrease of 17.9% compared to €50.5 million in the previous year. The industrial margin improved to 53.4% from 49.8% in 2023 (+3.6%); adjusted EBITDA stood at €3.2 million (vs. €9.1 million in 2023); adjusted EBIT was €1.4 million (vs. €8.1 million in 2023). The adjusted EBITDA margin was 7.7% of revenues, down from 18% in 2023. The net financial position (NFP) is positive at €12.9 million (vs. €17.1 million).

Francesco Gentili, Chairman and CEO of Gentili Mosconi, commented: "The results of 2024 reflect the context of significant uncertainty that has impacted the entire luxury sector globally. Despite a particularly challenging scenario, our Group has pursued with determination the strategy announced during the IPO, continuing the investments promised to shareholders, aimed at developing a structured, integrated, innovative, and sustainable industrial platform capable of offering an increasingly wide range of services to our clients. Over the past twelve months, we acquired a minority stake in the innovative printing company Creazioni Digitali. We increased our share in Tintoria Comacina to 90%, aiming to create a highly digitized, sustainable, and unique dyeing facility in the Como district. These investments are aimed at developing significant industrial synergies within the Group and the recent acquisition of Manifatture Tessili Bianchi. This will allow us to significantly increase our business volume by adding a line of solid-coloured fabrics. Other projects are on the table to complete our development plan. All these operations inevitably impacted the results of 2024. Still, at the same time, they demonstrate the strength of a Group that has doubled its investments. This allows us to be confident in a recovery, relying on the strengthening of production capacity and competitiveness, and ready to face the future challenges of the market."

The board has proposed to the next shareholders' meeting that the net profit for the 2024 financial year, amounting to €836,402, be carried forward after deducting the portion allocated to mandatory reserves.