• Global Fashion Group’s November 5, 2026, Q3 results call featured Christoph Barchewitz, Helen Hickman, Saori McKinnon and analyst Christian Sandherr.
• Management expects full-year NMV near the bottom of guidance following weaker October trading, particularly in Brazil amid post-election uncertainty.
• Full-year adjusted EBITDA guidance remains €18 million to €25 million, representing a year-over-year improvement of €9 million to €16 million.
• Q3 NMV fell 5.4% at constant currencies to €243 million; gross margin rose 0.9 percentage points to 47%.
• Trailing 12-month normalized free cash flow improved €33 million to negative €2 million; management declined to set a cash-flow-positive target date.

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