Marcolin 2022 financials reveal net sales growth of 20%

Asia was a standout market for global eyewear company Marcolin in its 2022 financials, contributing the group’s 20% growth (at current exchange rates) compared to the previous year.

Net sales amounted to €547.4 million, up 20.1% compared to the previous year at current exchange rates (+ 13.2% at constant exchange rates), which the company says confirmed the strength of its business strategy in a year marked by international geopolitical challenges and instability.

Adjusted EBITDA reached €61.0 million, an increase of 21.7% compared to €50.1 million in the previous year. The trend in the adjusted EBITDA margin was positive as well, reaching 11.1% of net sales.

Compared to 2021, the Company has also improved its performance in all geographical areas.

It reported significant growth in Asia (+ 47% at current exchange rates and + 33% at constant exchange rates), while EMEA (+ 18% at current exchange rates and + 17% at constant exchange rates) and Americas (+ 17% at current exchange rates and + 4% at constant exchange rates) accounted for approximately 90% of revenue.

According to Marcolin, several factors contributed to the results, including the consolidation of the numerous brands in its portfolio, the implementation of a digital transformation process, and production and procurement efficiency.

The net financial position amounted to €137.4 million, an improvement of €10.7 million compared to the previous year, thanks to the liquidity generated by both operating results and a regulated control of working capital in all its components (trade receivables, trade payables and inventory levels).

“Last year confirmed how Marcolin is a high-performance and sound company capable of tackling a complex historical period with vision and far-sightedness while consolidating its leadership position among the reference players at global level in a sector that, today more than ever, is experiencing a moment of great dynamism and change,” Mr Fabrizio Curci, CEO and general manager of Marcolin, said.

“The 2022 results provide a drive for the company’s divisions to elevate our expectations even higher: the year ahead of us is just as challenging, but full of important events, in which we will have to prove once again that we are a modern, agile company, capable of reading economic trends and supporting a sector in which Italy acts as a leader.”

In 2022, Marcolin also intensified its focus on sustainability and ESG issues. For example, it obtained the ISO 13485 certification, which regulates quality management systems in the medical device sector internationally.

LVMH buys out Marcolin’s stake in optical manufacturer Thélios

ODMA Awards for Excellence program returns in 2023; winners to be revealed at O=MEGA23