(PRESS RELEASE) MILAN — The Board of Directors of Marcolin, one of the worldwide leading eyewear companies, approved on 3 November the economic and financial results as of 30 September 2022.
Results as of 30 September 2022
In the first nine months of the year, Marcolin’s net sales were €409.7 million, up 21.0% compared to the same period in 2021, thereby confirming the positive performance recorded in the first half of 2022. In the 3Q22 stand alone, Group net sales were €126.1 million, with an increase of 24.3% YoY.
Compared to the same period of the previous year, sales increased in all geographical areas (figures at current exchange rates), notably in EMEA (+22.2%) and the Americas (+19.6%), which together account for more than 90% of net sales; also positive net sales increase in Asia (+21.5%), a high-potential area for the Group.
Adjusted EBITDA amounted to €50.5 million, compared to €42.0 million reported as of 30 September 2021. The trend in the adjusted EBITDA margin was equally positive, standing at 12.3% of net sales. These results were achieved thanks to an excellent sales mix, both in terms of brands and distribution channels, and the continuous effort on production and distribution efficiency, despite the increase in inflation which mainly impacted transportation and electricity costs. Finally, it should be also considered a push on marketing investments to support future expected sales.
Net Sales, Gross Margin, Adjusted EBITDA and EBIT as of 30 September 2022 (vs 30 September 2021)