Cucinelli posts higher profits, confirms sales guidance

MILAN (Reuters) -Italian luxury group Brunello Cucinelli on Thursday said its operating profit had risen 12.9% last year and confirmed its expectations of sales growth of around 10% in 2025 and 2026.

Earning before interest and taxes (EBIT) came in at 212 million euros ($230.4 million) in 2024, slightly below an analysts' forecast of 214 million euros, according to LSEG data.

"The first quarter of the year is drawing to an end with very, very positive results", the group's founder and Executive Chairman Brunello Cucinelli said in a statement.

The group reported a "very interesting" sell-out of its 2025 Spring-Summer collection and said the order intake for the new Fall-Winter collection showed "particularly positive results".

Full-year revenues - which the group had already published in January - rose 12.4% at constant exchange rates, bucking a sector slowdown thanks to its focus on the industry's high end.

Cucinelli said on Thursday that investments, aimed at expanding its factories, would increase to 9% of turnover during 2024-2026 from 7% in 2023, with an aim to double production capacity by 2033.

($1 = 0.9201 euros)

(Reporting by Elisa Anzolin, editing by Alvise Armellini)