Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Dexelance S.p.A. is a diversified industrial group and one of Italy's leading companies in the high-end design, lighting, and furniture sectors. It develops and promotes a hub of premium Italian design products, curating a portfolio of renowned brands that exemplify craftsmanship and style. Key furniture offerings include Gervasoni, Meridiani, Saba Italia, Gamma Arredamenti International, and Turri, while lighting products feature Davide Groppi, Flexalighting, and Axo Light. The group also provides kitchens and systems under Cubo Design, alongside luxury contract products from Cenacchi International and Modar. Operating across more than 130 international markets with 74% export revenue in 2024 and employing over 800 people across 13 companies and 16 brands, Dexelance emphasizes resilient growth, strategic acquisitions like Mohd and Roda, and non-invasive support for entrepreneurial autonomy. Headquartered in Milan with €26.9 million in equity, it fosters efficiency through centralized finance, digitalization, and a high-profile management team, enhancing its role in the global luxury homeware market.
The business is unprofitable at the operating level (-5.57% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 1.3% YoY. Margins deteriorated 14.5pp alongside, both lines moving the wrong way.
Free cash flow declined 87% versus the prior year, cash generation momentum has weakened. ROIC dropped from 7.45% to -4.51%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
€332M
▼ -1.3% YoY
Net Income (TTM)
-€19M
▼ -198.8% YoY
Op. Margin
-5.21%
▼ -14.5pp YoY
ROIC
-4.51%
▼ -12.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€3M
▼ -87.2% YoY
Op. Cash Flow (TTM)
€20M
▼ -60.2% YoY
Net Debt
€95M
Cash & Equiv.
€70M
3Y CAGR: +17.1%
3Y CAGR: -43.6%
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