Safilo Q4 net sales up 16.6 percent

During the fourth quarter of 2012, Safilo’s net sales

increased by 16.6 percent. For the entire 2012, net sales stood at 1,175.3 million euros (Rs 8,377 crores), growing by 6.7 percent compared to 2011.

Roberto Vedovotto, CEO of Safilo Group, commented: "We are satisfied with the results achieved in a challenging 2012. In 2012, we focused on the importance of the Safilo Brands for our future growth also through the acquisition of Polaroid, which became part of our portfolio last April.”

In Europe, sales in 2012 registered an increase of 5.7 percent compared to 2011. Revenues in the American market grew by 7.5 percent compared to 2011. In Asia, 2012 closed with a turnover increase of 7.3 percent at current exchange rates.

In the fourth quarter of 2012 the gross profit grew by 10.2 percent compared to the fourth quarter of 2011. For the full year 2012, gross profit grew by 4.2 percent compared to 2011.

EBITDA for the quarter stood at 29.2 million euros (Rs 208 crores) compared to 25 million euros (Rs 178 crores) registered in the last quarter of 2011. In the full year, EBITDA reached 115.1 million euros (Rs 820.4 crores). The operating profit (EBIT) for the fourth quarter of 2012 was equal to 17 million euros (Rs 121.1 crores) compared to 16.2 million euros (Rs 115.4 crores) in the fourth quarter of 2011. The year 2012 closed with an EBIT of 73.9 million euros (Rs 526.7 crores) compared to 86.2 million euros (Rs 614.4 crores) in 2011.

The group is based in Italy, in 2013, Safilo can count on the full consolidation of the Polaroid Eyewear business (for nine months in 2012) and on the start of its expansion in non-European markets. On the other hand the Group faces the deconsolidation of the Armani business and a market environment in which visibility remains low due to persisting economic weaknesses, especially in Europe.