Safilo Group sales up 1.8 percent at constant exchange rates in FY 2025

Preliminary sales for 2025 reached 983.4 million euros (1.2 billion dollars) for Safilo Group. This represents a growth of 1.8 percent at constant exchange rates, following a fourth quarter that saw a 0.4 percent increase compared to the same period in 2024. At current exchange rates, sales recorded a 1 percent decline for the year and a 4.6 percent drop in the quarter. This was affected by the progressive weakening of the dollar against the euro throughout the year.

Yesterday, Thursday, January 29, the board of directors of the Padua-Italy based eyewear company reviewed the main preliminary data for the financial year ending December 31, 2025. The full financial results for the year will be approved by the board of directors on March 12.

Fourth-quarter sales amount to 225 million

Preliminary fourth-quarter sales amounted to 225 million euros and showed varied performance by geographical area. In North America, sales grew by 1.5 percent at constant exchange rates (-7 percent at current exchange rates), supported by the strong performance of the wholesale business. The last quarter also saw a return to growth for Smith sports products in brick and mortar stores. However, the negative trend for Blenders in the direct-to-consumer channel continued.

In Europe, sales increased by 0.7 percent at constant exchange rates (-0.1 percent at current exchange rates). A company note stated this was “a positive performance that was nevertheless affected by the decline in volumes related to the production supply agreement; the deconsolidation of the Lenti srl business, sold in June 2025; and the advancement of deliveries to some customers to the third quarter”.

Europe showed a solid organic trend, with mid-single-digit percentage growth, thanks to the continued progression of the prescription frames business in all major markets. The Asia and Pacific region slowed down (-11.5 percent at constant exchange rates, -17.4 percent at current exchange rates), while some countries in the rest of the world area recorded a recovery in the quarter (+3.9 percent at constant exchange rates, +0.1 percent at current exchange rates).

2025 also positive for Asia and Pacific region, with 4.8 percent growth

Overall, in 2025, sales at constant exchange rates grew in both North America and Europe. The regions saw increases of 1.8 percent (-2.6 percent at current exchange rates) and 2.7 percent (+2.3 percent at current exchange rates), respectively. The year was also positive for the Asia and Pacific region, progressing by 4.8 percent (+1.3 percent at current exchange rates). Sales in the rest of the world, however, ended the year with a contraction of 4.5 percent (-10 percent at current exchange rates).

The management added in the statement: “The leadership of Smith sports products in the US, along with the continued strengthening of the contemporary and lifestyle portfolio, were the main growth drivers for the year. The Carrera; David Beckham; Tommy Hilfiger; Marc Jacobs; Boss; Kate Spade; and Carolina Herrera brands all made a decisive contribution to the group's growth in key strategic markets and distribution channels. Continued improvement in margins and strong cash generation”.

In 2025, Safilo implemented mitigation actions to counter strong tariff pressures. These included price adjustments in the North American market and a progressive shift of sourcing outside of China. Combined with favourable price/mix dynamics, these actions allowed the company to record continuous margin improvement and strong cash generation.

On a preliminary basis, the gross margin for the fourth quarter stood at 61.9 percent of sales, an increase of 240 basis points compared to the same quarter of the previous year. Thanks to this result, the company closed the 2025 financial year with a gross margin of 60.9 percent, 120 basis points above 2024. At the EBITDA margin level, the fourth quarter stood at 6.7 percent, an increase of 120 basis points compared to the 5.5 percent margin recorded in the fourth quarter of 2024. For the 2025 financial year, the EBITDA margin reached 10.8 percent, an improvement of 280 basis points compared to 2024.

This article was translated to English using an AI tool.

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