Ermenegildo Zegna Group's profit doubles in FY23

Ermenegildo Zegna Group announced a profit of 135.7 million euros for FY 2023, up 107.8 percent versus FY 2022, and a profit margin of 7.1 percent compared to 4.4 percent in the previous year.

Revenues for the year under review of 1,904.5 million euros, increased 27.6 percent or 19.3 percent on an organic basis.

Commenting on the company’s performance, Ermenegildo “Gildo” Zegna, the group’s chairman and CEO, said in a statement: “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.”

The company’s adjusted EBIT rose to 220.2 million euros with an adjusted EBIT Margin of 11.6 percent. Adjusted EBIT for the Zegna segment reached 193.5 million euros, up 36.7 percent and adjusted EBIT for the Thom Browne segment rose to 59 million euros, up 22.7 percent compared to FY22.