Safilo’s H1 net sales up by 1.7 percent

In the first six months of the year Padua-based Safilo

achieved net sales of 613.3 million euro's (747.5 million dollars/Rs 4,184 crores) compared to 603.3 million euro's (735.3 million dollars/Rs 4,116 crores) in the same period of 2011, an increase of 1.7 percent. The period benefitted from the consolidation, starting from the second quarter of 2012, of the newly acquired Polaroid eyewear business.

In the first half of 2012 the group recorded an operating profit of 51.2 million euro's (62.5 million dollars/349 crores) and a net profit equal to 21.5 million euro's (26.2 million dollars/Rs 146 crores). In the second quarter of 2012, the group’s net sales recorded an increase of 7.3 percent, reaching 324.6 million euro's (395.5 million dollars/Rs 2,213 crores), as compared to 302.6 million euro's (368.8 million dollars/Rs 2064 crores) in the second quarter of 2011. In the period, revenues for the wholesale business increased by 6.7 percent, reaching 301.2 million euro's (367.1 million dollars/Rs 2,054 crores) compared to 282.3 million euro's (344 million dollars/Rs 1,925 crores) in the second quarter of 2011.

Retail sales grew by 15.3 percent at current currency and 3.3 percent at constant currency thanks to the 6.3 percent like for like store performance. At the end of June, the network was made up by 137 stores.

In the first six months of the year, the wholesale business recorded a turnover of 572.7 million euro's (698 million dollars/Rs 3907 crores), up one percent compared to 566.8 million euro's (690.8 million dollars/Rs 3,866 crores) in the first half of 2011. The retail channel reached sales of 40.6 million euro's (49.4 million dollars/Rs 276 crores), up 11.2 percent at current exchange rates and 2.8 percent at constant exchange rates.

In the second quarter, sales in the American market reached 130.6 million euro's (159.1 million dollars/Rs 890 crores), up 14.3 percent compared to 114.3 million euro's (139.3 million dollars/Rs 779 crores) recorded in the second quarter of 2011. In the first half of 2012, sales in the American market reached 248 million euro's (302.2 million dollars/Rs 1,691 crores) compared to 233 euro's (284 dollars/Rs 1,589) in the first half of 2011.

In the second quarter of 2012, sales in Asia equaled 57.2 million euro's (69.7 million dollars/Rs 390 crores) compared to 52.6 million euro's (64.1 million dollars/Rs 358 crores) in the corresponding quarter of 2011. In the first half of 2012, revenues in the area reached 106.1 million euro's (129.3 million dollars/Rs 723 crores), up 6.2 percent, compared to 99.9 million euro's (121.7 million dollars/Rs 681 crores) in the first half of 2011. Europe remained the most difficult business region, characterized by significant differences in performance by country and distribution channel. In the second quarter of 2012, European sales, main beneficiaries of the consolidation of the Polaroid business, equaled 132.5 million euro's (161.5 million dollars/Rs 904 crores) compared to 131.7 million euro's (160.5 million dollars/Rs 898 crores) in the second quarter of 2011.