Zegna Revenue Jumps 20% in Full-Year Results

Zegna Revenue Jumps 20% in Full-Year Results

Ermenegildo Zegna Group reported a significant surge in organic revenue with the posting of its full year results, marking a 19.3 percent increase. This robust performance prompted the company to propose a substantial 20 percent hike in its annual dividend.

A significant contributor to this growth was the Greater China region, where revenue soared by 24 percent during the reporting period. Chairman and CEO Ermenegildo “Gildo” Zegna also attributed the company’s success to its ongoing integration of Tom Ford.

For the fiscal year 2023, Ermenegildo Zegna Group reported revenues of 1.9 billion euros (approximately $2.06 billion), with a proposed dividend of 0.12 euros per share. The company also announced a profit of 135.7 million euros for FY 2023, representing an impressive 107.8 percent increase compared to the previous year. Additionally, the profit margin expanded to 7.1 percent from 4.4 percent in FY 2022.

“We delivered outstanding results, including more than doubling our profit from 2022 to reach 136 million euros. We have also fulfilled our 2023 sustainability commitments including those focused on traceability, diversity and inclusion, and in renewable energy adoption.”

– Ermenegildo Zegna, Zegna Chairman and CEO

The company’s adjusted earnings before interest and taxes reached 220.2 million euros, with an adjusted EBIT margin of 11.6 percent. Notably, adjusted EBIT for the Zegna segment surged to 193.5 million euros, marking a remarkable 36.7 percent increase, while the Thom Browne segment witnessed a 22.7 percent rise to 59 million euros compared to FY22.