Earnings DeclineEBITDA Adj. fell by 60% to €3.2m, with an EBITDA margin of 7.7%, compared to 18% in 2023.
Financial PerformanceFY24 results were below expectations and the year got off to a difficult start, consistently with the still weak luxury demand.
Market ConditionsThe context remains complicated, with an always cautious attitude of the brands, a shortening of visibility to about 4 weeks and increasingly volatile order trends.