Ermenegildo Zegna N.V. (ZGN) Q1 2025 Earnings Call Transcript

2025-04-24 14:30:05 ET

Ermenegildo Zegna N.V. (ZGN)

Q1 2025 Earnings Conference Call

April 24, 2025, 08:00 ET

Company Participants

Paola Durante - Chief of External Relations

Gianluca Tagliabue - COO & CFO

Conference Call Participants

Oliver Chen - TD Cowen

Chris Huang - UBS

Anthony Charchafji - BNP Paribas

Natasha Banoori - Morgan Stanley

Daria Nasledysheva - Bank of America Merrill Lynch

Louise Singlehurst - Goldman Sachs Group

Presentation

Operator

Good afternoon. Good morning, everyone. Thank you for joining the Ermenegildo Zegna Group Q1 2025 Revenues Call.

Please note that today's material and presentation are available under the zegnagroup.com website. Joining us today, the Zegna Group's senior management team, including Gianluca Tagliabue, Group CFO and COO; 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's actual results may be materially different from those expressed or implied by these forward-looking statements. Also, these statements are subject to a number of risks and uncertainties, including those described in our SEC filings. Please refer to the forward-looking statements, cautionary statements included at Page 2 of today's presentation.

I will now turn the call over to Paola to begin. Paola, please go ahead.

Paola Durante

Thank you. Thank you, operator. Good morning and good afternoon, everyone, and welcome to our first quarter 2025 revenues call. As anticipated, today's call is led by Gianluca Tagliabue, Group COO and CFO; and by myself. Alice Poggioli, Investor Relations Director, is also here with us.

Our CEO, Mr. Gildo Zegna, will attend the July call. I will start this call with a brief comment on our results and then I will leave to Gianluca for a few final remarks before opening the Q&A session.

So let's move directly to Page 8 of the presentation, where you find the key highlights of our results. In the first quarter of 2025, the group reported EUR 459 million in revenues compared to EUR 463 million in the first quarter of last year.

The revenues were down 1% year-on-year in both reported and organic terms. As of this quarter, organic performance corresponds to constant currency, not having any difference in the perimeter of consolidation. And I remind you that as usual, during the presentation, I will comment on organic performance....

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