The Italian glasses group Safilo generated sales of 285.8 million euros in the first quarter of 2025. This corresponded to a currency -adjusted growth by 2.2 percent compared to the same period in the previous year.
On Wednesday, the Safilo Group Spa board of directors in Padua checked and approved the most important performance key figures for the first quarter. The gross profit margin therefore amounted to 60.5 percent, an increase of 50 basis points compared to the corresponding previous year’s level of 60.0 percent. The adjusted EBITDA margin was 12.0 percent and thus increased by 50 basis points compared to 11.5 percent. The gross profit was 173.0 million euros. This increased by 4.1 percent compared to the first quarter of 2024.
The Free Cashflow amounted to 14.4 million euros compared to 1.7 million euros in the same period of the previous year. The net debt was 68.4 million euros at the end of March after it was 82.7 million euros at the end of December 2024.
North America continues the recovery
“The year 2025 began, especially in January, when the good recreational signs in North America were confirmed from the end of 2024. In the course of the quarter, however, the uncertainty increased because the increasing geopolitical tensions began to burden consumption mood,” said Angelo Trocchia, the Chief Executive Officer (CEO) from Safilo, in one Press release.
“In this complex environment, we have completed the first quarter with solid results. Europe has been confirmed as the market in which innovation and orientation to the customer: the most effective in the inside was combined, which ensured a wide growth across all brands and markets. In North America, despite one still inconsistent scenarios, we have a moderate improvement that is moderate from the sports products of Smith and the resistance of the business with Correction versions were borne, ”added Trocchia.
“In view of the constantly changing customs situation, we pursue a prudent and flexible approach and use the current challenges as an opportunity to speed up the diversification of our supply chain,” emphasized the CEO.
Many brands achieve growth
The sales development of most brands in the portfolio was positive. “Smith in particular further expanded its management position in the North American market for ski glasses and helmets, while Carrera and David Beckham retained the dynamics won in the course of 2024. The quarter also continued for polaroid, because the fourth quarter of 2024 continued, as well as for the most important license brands, from Tommy Hilfiger and Carolina Herrera up to Boss, Hugo and Marc Jacobs, ”said the company.
In the Asian-Pacific area, the proceeds increase particularly strongly
In the first quarter, the upswing was primarily supported by the development in Europe and in the Asian-Pacific area, to which a recovery of the North American market was added.
In North America, sales in the first quarter of 2025 amounted to 118.8 million euros, growth by one percent for constant exchange rates and 3.8 percent for current exchange rates. In Europe, sales rose by 2.9 percent (currency -adjusted +2.8 percent) to 128.9 million euros.
“The environment remained dynamic, especially in France and the countries of Eastern Europe, where the group expanded its announcement: internal base and increased the productivity of the already active accounts,” emphasized management.
In the Asian-Pacific area, sales in the first quarter amounted to 14.4 million euros. This meant growth of 18.5 percent in constant exchange rates and 21.2 percent in current exchange rates.
In the rest of the world, revenues fell by 7.4 percent (currency -adjusted -2.9 percent) to a total of 23.7 million euros. This was particularly due to the weakness of the Indian and the Mexican market, while sales development in the Middle East and Brazil was positive.
This article was used with digital tools translated.
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