Geox revenue down 11.4 percent in first half

Geox spa has closed the first six months with revenues down 11.4 percent compared to the first half of the year (8.8 percent on a like-for-like basis), at 270 million euros (309 million dollars). The company reported an adjusted Ebitda of 13 million euros, compared to nine million in the same period last year.

“Geox has faced a difficult and sharply contracting market, already characterised by very strong competition, as well as extraordinary natural and other events. We have leveraged all the actions under our control to recover profitability, even accepting the possible consequence of losing sales volumes. The effect of this strategy translates into an adjusted Ebitda (excluding the IFRS 16 impact) of approximately 13 million euros, which compares to about nine million euros in the previous comparable period. Meanwhile, the adjusted Ebit for the period stands at approximately six million euros (net of non-recurring costs of about one million euros) compared to the previous figure of about one million euros. Debt to banks amounts to 95.3 million euros (100.5 million on June 30, 2025), and working capital is 21.9 percent of the last 12 months' turnover, fully in line with seasonal trends,” chief executive officer, Francesco Di Giovanni, said in a statement.

The management continued that measures to streamline the cost structure have led to savings in operating costs of approximately 19.1 million euros in the reporting period.

Di Giovanni specified that rationalisation measures in production processes and sourcing methods “have brought economic benefits and, above all, improved the debt situation. Despite the reduction in sales revenue, this allows for a forecast of year-end debt in the range of 40-45 million euros. This is a truly significant result considering that the debt stood at approximately 93 million euros at the end of the 2025 financial year”.

Revenues in the first half of 2026 showed a decline of 8.8 percent on a like-for-like basis, excluding the impact of voluntary store closures and the discontinuation of some unprofitable distribution channels and customers. The absolute decline compared to the same period last year was 11.4 percent and affected virtually all sales channels and geographical areas.

Geox develops and patents new product, Climasandal

During the first half of 2026, Geox developed and patented a new product, the Climasandal, a preview of which was distributed in selected stores. It is a men's and women's sandal based on an internally developed and patented technology, the Ventilated Cushioning System, which allows air to recirculate, generated by the natural movement of the foot.