Italy's Zegna says on track for mid-term goals after rise in Q3 revenue

Ermenegildo Zegna NV

24/10/2023 12:26

ROME, Oct 24 (Reuters) - Italian fashion group
Ermenegildo Zegna  JNO.F  said its latest results confirmed the
company was on track to achieve its medium term, end-2025 goals,
after reporting a 20.8% rise in third-quarter revenues.
    By the end of the 2025 fiscal year the New-York listed group
is aiming for annual revenues to exceed 2 billion euros ($2.12
billion) and for the adjusted EBIT (earnings before interest and
tax) margin to reach at least 15%, excluding the Tom Ford
Fashion segment.
    "I am confident that the continued progress of the Zegna
rebranding, the expansion opportunities for Thom Browne, and the
integration and evolution of Tom Ford Fashion all provide
valuable tailwinds despite the current global operating
environment," Chairman and CEO Gildo Zegna said in a statement,
referring to the group's different brands.
   Revenues in the July-September period were up to 431 million
euros ($457.85 million) year-on-year, the statement added. 
    
($1 = 0.9414 euros)

 (Reporting by Giulia Segreti, editing by Gavin Jones)
 ((Giulia.Segreti@tr.com; +39.06.80307714;))