The Italian eyewear manufacturer Marcolin SpA was able to improve its sales in the first nine months of the 2023 financial year. The group of companies, which last week took over the eyewear label Ic! Berlin also achieved significant profit growth.
According to an interim report published on Thursday, group sales in the period from January to September amounted to 421.6 million euros. This corresponded to an increase of 2.9 percent compared to the previous year’s level. Adjusted for exchange rate changes, revenue increased by 4.4 percent.
The eyewear manufacturer is benefiting from strong growth in Asia
The growth engine was the business in Asia. Sales there increased by 85.7 percent (currency-adjusted +91.5 percent) to 29.3 million euros, not least thanks to a significant increase in China. In the EMEA region, which includes Europe, the Middle East and Africa, Marcolin achieved an increase of 3.6 percent (currency-adjusted +4.9 percent) to 204.1 million euros.
Revenues in America, however, fell by 3.7 percent (-2.4 percent adjusted for currency effects) to 168.1 million euros. In the rest of the world they fell by 10.0 percent to 20.2 million euros.
Due to low production, procurement and freight costs, earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects rose by 27.9 percent to 64.6 million euros. The reported net profit, which was 1.8 million euros in the first nine months of the previous year, jumped to 13.5 million euros.
