Eyewear giant Marcolin has hailed a positive performance in the first nine months of the year, the company growing both revenue and margins with Asia storming ahead but America much weaker.
Net sales for the business increased 3% year on year to reach €421.6 million. And adjusted EBITDA was €64.6 million, an increase of 28%. The percentage margin on net sales was 15.3% compared to 12.3% a year earlier.
It meant that the period closed with a net profit of €13.5 million, up from €11.7 million in the previous year’s first nine months.
It also has eyewear licenses for a wide range of brands from Guess to Adidas, Max Mara, Moncler, Zegna, MCM, Barton Perreira, Tod’s, Bally, Pucci, Kenneth Cole, Timberland, Gant and Skechers, among others.
Marcolin said the period saw the sales performance in “high-potential” Asia continuing strongly with an 86% increase at current exchange rates and 91% at constant rates. EMEA was positive but nowhere near the leap seen in Asia. Instead sales rose 4% at current exchange rates and 5% at constant rates. Meanwhile, American sales actually fell 4%, although at constant exchange rates they were down only 2%.
For the third quarter specifically, the positive overall trend continued with adjusted EBITDA of €13.3 million (equal to 11.8% of net sales), compared to €9.9 million for the same period of the previous year (equal to 7.9% of net sales). That “more than compensat[ed for] the usual net sales seasonal trend and their 10.4% drop at current exchange rates compared to the same quarter of 2022, mainly on the American continent”.
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