Leading eyewear group Marcolin is reporting that it has strengthened its performance, continuing the growth path of recent years with significant improvements in terms of profitability, despite a year marked by international uncertainties and challenges.
In its latest financial results, the company showed it had improved profitability in 2024 despite a slight decline in year-on-year sales.
That result included good momentum from the vital Europe, Middle East and Africa (EMEA) region and a strong showing in Asia, which includes the Australian market.
The company posted net sales of €545.8 million (AU$935.4 million) in 2024, down by -2.2% year-on-year at current exchange rates (-1.8% at constant exchange rates).
Excluding the positive impact of new brand acquisitions and discontinued brands, like-for-like net sales increased +1.7% at current exchange rates (+2.1% at constant exchange rates).
The group achieved an adjusted EBITDA of €85 million (AU$145 million), representing a +10.2% year-on-year increase with an EBITDA margin on net sales of 15.6%, up from 13.8% in 2023.
EMEA was the leading contributor, at €269.1 million (AU$461 million) in sales, an increase of 6.2%. The Americas reported net sales of €198.6 million (AU$340 million), a drop of 7.1%, while the Asian market, including Australia, demonstrated positive momentum, achieving a 9.6% increase with revenue of €47.6 million (AU$81.5 million).
In 2024, Marcolin bolstered its portfolio through key licence renewals with brands including GCDS, Zegna, MAX&Co. and Skechers. Additionally, the group secured exclusive agreements with Christian Louboutin, K-Way and Abercrombie & Fitch Co.
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