Safilo posts 3.1 percent turnover growth in 2019

For the financial year ended December 31, 2019, Safilo group said preliminary net sales of the continuing operations equalled 939 million euros (1,034.3 million dollars), up 3.1 percent at current exchange and 0.9 percent at constant exchange rates. The company said in a statement that on a preliminary basis and pre-IFRS 16, Safilo confirms an adjusted EBITDA margin of the continuing operations at 5.5 percent for 2019.

In the 4th quarter, wholesale performance was up 1.8 percent at current exchange rates and 0.1 percent at constant exchange rates, reflecting 4.2 percent sales rise in the North American business, and 8.9 percent increase in Asia-Pacific, while Europe posted 4 percent decline. Preliminary total net sales of the continuing operations in the quarter equalled 230.4 million euros (253.7 million dollars), down 2.8 percent at current exchange rates and 4.3 percent at constant exchange rates mainly due to the decline in Europe of the business related to the supply agreement with Kering.

2019 wholesales revenues rise 5.2 percent at Safilo

The revenues of the wholesale business increased by 5.2 percent at current exchange rates and by 2.8 percent at constant exchange rates. In 2019, the company added, performance at constant currency of the wholesale revenues was positive by 3.2 percent in Europe, while it remained down, by 0.6 percent in North America despite the business recovery achieved in the 4th quarter. Wholesale revenues in Asia progressed 19.2 percent at constant exchange rates, while sales in the Rest of the World recorded an improvement of 1.1 percent.

The company further said that 2019 wholesale performance was driven by 5.7 percent growth at constant exchange rates achieved by the group’s own core brands Carrera, Polaroid and Smith and by the positive performance of the main licensed brands.

Picture:Facebook/Carrera