Geox: cautious outlook for 2018 year-end resultsA less than satisfactory second quarter for Geox, with sales that have fallen by -8.7% to 414.1 million euros and an adjusted EBTIDA for the first half of the year that drops from 42.1 million to 27.1 million euros.

Aug 27, 2018
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Ordinary activities have amounted to 10.9 million euros, in a downtrend from the 24 million euros recorded the previous year. During the first half of 2018, special items for 2.1 million euros were also recorded, mainly relating to the company’s organisational review and optimisation of the store network.

With this data, the Geox management team declared that revenue forecasts and year-end results would need to be approached with a certain degree of prudence, “because, – states the company’s report – although the sales trend during the second half of 2018 should improve with an improved gross margin, it seems very unlikely that these factors will be enough to compensate for the downtrend registered in revenue during the first half of the year”.

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