Preliminary Q2 2025 Brunello Cucinelli SpA Corporate Sales Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Andrea Randone - Intermonte - Analyst : Thank you and good evening, everyone. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 10, 2025 / 4:00PM, BCU.MI - Preliminary Q2 2025 Brunello Cucinelli SpA Corporate Sales Call Grea I have 3 questions. Looking at the margins associated with the revenues that you mentioned today. Now looking at this beautiful revenues, looking at the retail segment that has been growing beautifully without any new store openings, so we have a very positive feeling if we can. The like for like situation. But at the same time in the 2nd quarter, we have the impact of the dollar. So you said that you're well protected against this situation, but if you could just give us, further information in this regard. So how these two things offset each other, shall I ask all the three questions at once and then, yeah, I'll ask them the other questions as well. So second question, it's just, out of curiosity, if you could just. Add some color on this very strong value that you announced about multi-brands. And which is also written in the press release. So if you could just, give us some further details about deliveries because again it's a very strong value one that you're announcing. So how do you see this value, this result evolving over the year and then one last question about Dubai. You already entertained relationships with customers in Dubai. If you could just tell us more about, expectations in Dubai, how the, how you think the situation will evolve.

Question: Oriana Cardani - Banca Intesa - Analyst : Good evening. And thank you. My first question is about the growth of our stores. Can you please quantify the impact of the price mix during the first half? Then I have a second question. On the order intake for the spring summer collection 2026. Are there Any differences between the different geographies of Europe, America, and the rest of the world, or did you see a balanced growth throughout all the geographies for the time being? And the third question on online sales has this channel grow? In line with the growth of the brick and mortar stores during this first half and what are your expectations for the year end considering the October innovation?

Question: Louise Singlehurst - Goldman Sachs - Analyst : Hi, good afternoon, everyone. Thank you for taking my questions. I'll stick to 2. I wondered if you could firstly confirm the 10% growth outlook and given the FX move, is that on a reported basis? And if so, you're that would imply that you're feeling more confident given the FX headwinds that we've seen. In recent weeks and then the second question I was just going to ask about the factory and capacity. You must be delighted that they're opening and you're ahead of schedule, but does that bring our benefits on the supply and volumes for 25 but more so 2026? Thank you.

Question: Charles-Louis Scotti - Kepler Cheuvreux - Analyst : Good evening, everyone. Thank you for taking my questions. I have to, the first one, could you please remind us, your, wholesale revenues break down by geography or, the regional wholesale penetration, and specifically in the US, it seems that the merger between Sachs and, Neiman Marcus, appears to be facing some challenges. Could you clarify your exposure to, this, group and also Bloomingdale and Nordstrom, who seem to be getting market share and how this dynamic is affecting your wholesale business in in the US. And my second question. Is on your debt position. It seems that the CapEx will be more, front end loaded. So is it fair to assume that your debt, position will peak at around, I don't know, EUR180 million this year and how fast do you think, the debt will go down in the coming years? Thank you very much.

Question: Melania Grippo - Exane BNP Paribas - Analyst : Melania Grippo, Exane BNP Paribas. First of all, congratulations for your results. I have two questions. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 10, 2025 / 4:00PM, BCU.MI - Preliminary Q2 2025 Brunello Cucinelli SpA Corporate Sales Call But, well, before you ask your question, Let me tell you something. Well, someone says outstanding results, well, I actually do not see such outstanding results. So, well, I'm saying so before your question, can we say that we've had a normal growth? Otherwise, people would say, oh my God, what kind of results, but we haven't doubled or tripled our revenues. This is our normal life. Okay, good. So I'd like to know, as far as profitability is concerned, what can we expect for the for the first half of the year. Then I know that this quarter has just started, but can you tell us something about July?