Geox Fall-Winter 2025/26, photo: Geox
Geox Group reports sales decline and reduces losses
Italian footwear group Geox has announced its 2025 financial results, which showed a decline in sales but also a reduction in losses as a result of business restructuring measures, Worldfootwear.com reports.
The company's net loss for the year halved year-on-year to €16,2 million, while bank debt decreased significantly to €92,6 million.
The group's consolidated revenue amounted to €608,7 million, a decrease of 8,3% (or 8,5% excluding currency effects) compared to the previous year. Excluding the impact of the closure of subsidiaries in China and the US, as well as certain unprofitable distribution channels, sales declined by 5,3%.
Sales in Italy totaled €179,2 million, down 4,5% year-on-year (Italy accounts for 29,4% of the group's revenue). The decline was driven by deteriorating wholesale and retail sales (down 8,7% and 4,1%, respectively), partially offset by an increase in online sales (up 5,4%).
Geox's European sales for the year amounted to €290,7 million (47,8% of total revenue). This figure decreased by 3,2% compared to the previous year (or by 3,1% excluding currency fluctuations), primarily due to deterioration in wholesale sales in Germany, France, and the Iberian Peninsula, partially offset by growth in retail sales, particularly in France and the Benelux countries.
Sales in "other countries" (22,8% of total revenue) in 2025 amounted to €138,7 million, a decrease of 21,1% (or 21,7% excluding currency fluctuations) year-on-year. This decline was due to the closure of operations in China and the United States, as well as a deterioration in performance in Russia. This was partially offset by robust growth in the Middle East and Africa regions.
Despite declining sales, Geox maintained stable profitability, bolstered by a restructuring plan implemented in the second half of 2025, which resulted in savings of €27,4 million. As a result, adjusted earnings before interest and taxes remained flat year-on-year at €9,0 million (compared to €8,8 million in 2024).
In 2026, Geox will continue to implement measures to improve the efficiency of its business model, expecting to reduce costs by €8-9 million, and also plans to update its industrial plan.
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