The Italian cashmere king reported a 24% rise in sales, while net income jumped 42%.
Brunello Cucinelli unveils yet more good news.
The Italian cashmere specialist achieved earnings before interest and taxes (EBIT) of 187.4 million euros ($204.1 million) in 2023, up 39.4% and broadly in line with analysts’ forecasts based on a consensus provided by LSEG. Its margin reached 16.4%, compared with 14.6% in 2022.
Net income rose by 42% to 123.8 million euros, with an impact on sales of 10.9% versus 9.5% in 2022.
Last January, the Italian cashmere specialist had already announced good preliminary results for 2023, with sales expected to grow by 22% to 23% at current exchange rates to 1.1 billion euros.
Dynamic markets everywhere
As confirmed on March 14, Brunello Cucinelli did even better, with sales up +24% (+26.0% at constant exchange rates) to 1.14 billion euros.
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Featured Photo: © Cucinelli
