Safilo: net sales up 2.2 percent in nine months, reaching 758.4 million

Safilo has reported a third quarter of resilient sales growth at constant exchange rates, amid a still uncertain environment impacted by currency fluctuations. Net sales stood at 220.8 million, up 2.1 percent at constant exchange rates, in the three-month period. In the first nine months, net sales reached 758.4 million, up 2.2 percent at constant exchange rates. Yesterday, Tuesday, the board of directors of Safilo Group spa reviewed and approved the key performance indicators for the third quarter and the first nine months of 2025.

“In the third quarter, we confirmed the solidity of our results, with stable top-line growth and a further strengthening of both margins and cash generation. Although the period was penalised by a greater impact from currency fluctuations, the strength of our contemporary and lifestyle brands supported resilient sales growth of 2.1 percent at constant exchange rates, substantially in line with the performance of the first half," emphasised Angelo Trocchia, chief executive officer of Safilo, in a statement.

Angelo Trocchia, CEO of Safilo Group Credits: Safilo Group

"Our extensive geographical presence allowed us to offset the flat trend in the North American market with high-single-digit growth in Europe, while, in emerging markets, continued growth in Asia and the Pacific helped to mitigate the weakness recorded in the rest of the world," the CEO added. During the quarter, business continued to be affected by pressure from tariffs.

"Nevertheless, the effectiveness of our mitigation actions, combined with favourable price/mix dynamics and the gradual normalisation of logistics and marketing costs, led to a year-on-year improvement in the industrial margin and a significant increase in the adjusted EBITDA margin, equal to 10 percent of sales," the CEO stated.

US business performance influenced by contrasting trends and dynamics

North America saw third-quarter sales hold steady at 96.9 million euros at constant exchange rates, matching the previous year. However, currency depreciation resulted in a 6.6 percent drop at current exchange rates. Performance was mixed: the eyewear wholesale business delivered mid-single-digit growth, fuelled by strong demand for brands like Tommy Hilfiger, Marc Jacobs, and Boss. Conversely, the sports segment saw good growth in Smith's direct-to-consumer channel, though sales to physical stores were hampered by ongoing recovery delays for sports product shipments from China. Furthermore, Blenders' e-commerce struggled due to intense competition and promotional activity in the value-for-money segment. For the nine-month period, North American sales totalled 317.8 million euros, a 1.9 percent increase at constant exchange rates.

Europe was a growth driver in the third quarter, with sales climbing 7.7 percent at constant exchange rates (and 6.7 percent at current rates) to 90.9 million euros. This positive momentum was sustained throughout the first nine months, resulting in sales of 334 million euros, up 3.2 percent at constant rates.

The Asia and Pacific region also showed healthy expansion, with third-quarter sales rising 7.8 percent at constant exchange rates to 13.8 million euros. Over the first nine months, the region posted the strongest growth, with sales reaching 44 million euros, marking a 12.4 percent increase at constant exchange rates.

In the Rest of the World region, sales faced significant challenges, falling 13 percent at constant exchange rates to 19.2 million euros in the third quarter. This sharp decline was primarily attributed to persistent difficulties in India and a complex market environment for distributors in the Middle East. Consequently, nine-month sales for the region were down 6.8 percent at constant rates, totalling 62.7 million euros.

This article was translated to English using an AI tool.

OR CONTINUE WITH

Safilo