(PRESS RELEASE) LONGARONE/MILAN — On 30 July 2024, the Board of Directors of Marcolin, a worldwide leading group in eyewear, approved the economic and financial results as of 30 June 2024.
Results as of 30 June 2024
Despite the ongoing international economic situation, Marcolin was able to consolidate its performance in the first six months of 2024 thanks to an increase in marginality, with adjusted EBITDA standing at €52.7 million, up 2.9% YoY. The impact on net sales was positive at 17.7% (compared to 16.6% for the same period in the previous year).
Net sales stand at €297.6 million, down 3.6% at current exchange rates (-3.4% at constant exchange rates) compared to the same period of the previous year. On a like-for-like basis (excluding the positive impact of new brands in 2024 and the impact of discontinued brands), net sales increased by 0.6% at current exchange rates (+0.8% at constant exchange rates).
The main markets in 2024 were EMEA and the Americas, recording revenues of €149.6 million (+2.1% on a like-for-like basis) and €106.6 million (-4.7% on a like-for-like basis), respectively. The Asian market, with high potential for the Group, consolidated the growth trend of recent years, posting double-digit growth in the half year.
The adjusted net financial position amounted to €338.0 million, an improvement of €6.4 million compared to 31 December 2023 thanks to the positive cash flow generated by operating activities, despite the typical cash absorption of net working capital due to the seasonality of the business in the first half of the year.
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Early this year, Marcolin announced licence renewals with ZEGNA, MAX&Co., GCDS and Skechers. It also entered an exclusive partnership with Christian Louboutin, which will lead to the brand’s debut in the eyewear category for the first time in its history. Moreover, it has been added K Way, the French brand known worldwide for its revolutionary rain jacket, for which the Group will be responsible for the design, production and worldwide distribution of sunglasses, optical frames, ski goggles and kids’ eyewear proposals.
