Italian footwear brand Geox has reported a revenue of €664 million for fiscal 2024, equivalent to a 7.8% downturn compared to 2023 (and a 7.1% drop at constant exchange rates). The result was chiefly caused by Geox’s sub-par performance in multibrand retail and franchised stores.

The group recorded a loss of €17.3 million, greater than the €6.5 million loss posted in 2023. EBITDA was €76.3 million (equivalent to 11.5% of revenue), compared to €89 million the previous year. Geox’s adjusted net income was €8.8 million, down from the €15.6 million generated in 2023.

​​The forecast for 2025 is a low-single-digit revenue drop and an operating margin decline of approximately 80 basis points. Geox stated in a press release that the forecast is subject to “a high degree of uncertainty, given the current macroeconomic and geopolitical context.”

In Q4 2024, Geox performed slightly better than the previous year, recording a revenue of €138 million (up 0.5% at current exchange rates).

“2024 proved to be a complex year for the group, marked by the persistence of tough market conditions which have affected company performance and sales volumes,” said CEO Enrico Mistron.

Geox’s new 2025-2029 business plan is a “crucial step, as it sets out the growth guidelines for the next five years. Our strategy is based on three mainstays: Innovation, style and sustainability,” concluded Mistron.