• In the first six months of 2023 net sales increased by 8.8% to €308.7 million compared to the first half of 2022
  • Adjusted EBITDA at €51.2 million, increased by 26.4% compared to €40.5 million in the first half of 2022. The % margin on net sales was 16.6% (14.3% in the first half of 2022)
  • Positive net result of €15.5m, increased compared to the €8.8m of the first six months of 2022

 

Longarone/Milan, July 31, 2023  On July 27th, the Board of Directors of Marcolin, a worldwide leading group in the eyewear industry, approved the Condensed Consolidated Financial Results as of June 30, 2023.

 

In the first half of 2023 the consolidation of the Group’s economic results continued positively: net sales amounted to €308.7 millionwith an increase of 8.8% at current exchange rates (+8.7% at constant exchange rates) compared to the same period of the previous year, confirming the business strategy adopted by the company in recent years as capable of recording positive results despite a very complex macroeconomic and geopolitical context.

 

Compared to the same period of the previous year, Marcolin’s performance continued to grow in a high potential market such as the Asian market (+125.4% at current exchange rates and +125.3% at constant exchange rates). The EMEA also improved (+8.7% at current exchange rates and +9.3% at constant exchange rates). Performance on the American continent was in line with the first half of 2022. Together with the European continent, it represents the main market for the Group.

 

Adjusted EBITDA amounted to €51.2 million, marking an increase of 26.4% compared to €40.5 million in the same period of the previous year. The trend in the adjusted EBITDA margin was equally positive, reaching 16.6% of net sales (compared to 14.3% in the first half of 2022).

 

Lastly, Marcolin closed the first six months of the year with a positive net result of €15.5 million (increased compared to the €8.8 million of the first six months of 2022).

 

Various factors contributed to the achievement of these important results, including the consolidation of the numerous brands in the portfolio, the implementation of a digital transformation process based on the central role played by the relationship with customers in all its phases, and the continuous push towards efficiency in production and procurement.

 

Q2 2023 Results

Taking into consideration only the performance of the second quarter of 2023, Marcolin generated revenues of €156.4 million, substantially in line with the same period of the previous year (+1.6% at current exchange rates). Adjusted EBITDA was €27.6 million (equal to 17.6% of net sales), compared to €22.3 million in the second quarter of 2022 (equal to 14.5% of net sales).

 

ABOUT Marcolin is a worldwide leading group in the eyewear industry founded in 1961 in the heart of the Veneto district, Italy. It stands out for the unique ability to combine craftsmanship with advanced technologies through the constant pursuit of excellence and continuous innovation. The portfolio includes house brands (WEB EYEWEAR), as well as more than twenty licensed brands: TOM FORD, Guess, adidas Sport, adidas Originals, Max Mara, Moncler, Zegna, GCDS, MAX&Co., Barton Perreira, Tod’s, Bally, Pucci, BMW, Kenneth Cole, Timberland, GANT, Harley-Davidson, Marciano, Skechers and Candie’s. Through its own direct network and global partners, Marcolin distributes its products in more than 125 countries. At the end of 2022, Marcolin Group counted about 2,000 employees and net sales of €547.4 million.

www.marcolin.com

 

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