Marcolin, a leading eyewear company, has announced strong financial results for the first nine months of the year, reflecting growth in both revenue and margins. The company’s net sales increased by 3% year-on-year, reaching €421.6 million. Adjusted EBITDA also experienced significant growth, rising by 28% to €64.6 million. The percentage margin on net sales also improved, reaching 15.3% compared to the previous year’s 12.3%. Consequently, Marcolin achieved a net profit of €13.5 million, up from €11.7 million in the same period last year.
One standout achievement for Marcolin during this period was the signing of a perpetual licensing agreement with The Estée Lauder Companies for the prestigious Tom Ford brand. In addition to Tom Ford, Marcolin also holds eyewear licenses for several other renowned brands such as Guess, Adidas, Max Mara, Moncler, Zegna, MCM, Barton Perreira, Tod’s, Bally, Pucci, Kenneth Cole, Timberland, Gant, and Skechers.
In terms of regional performance, Marcolin experienced remarkable growth in the Asian market, where sales increased by 86% at current exchange rates and 91% at constant rates. While sales in the EMEA region (Europe, Middle East, and Africa) also demonstrated positive growth, it was not as robust as in Asia, with a 4% growth at current exchange rates and 5% growth at constant rates. On the other hand, the American market faced a decline in sales, decreasing by 4%, though when adjusted for constant exchange rates, the decline was limited to 2%.
The positive momentum continued in the third quarter, with adjusted EBITDA reaching €13.3 million, equivalent to 11.8% of net sales. This marked an improvement from the same period last year when adjusted EBITDA stood at €9.9 million, accounting for 7.9% of net sales. Marcolin highlighted that this growth in EBITDA more than compensated for the normal seasonal drop in net sales, which declined by 10.4% at current exchange rates compared to the same quarter in 2022, primarily due to the performance in the American continent.
Overall, Marcolin’s performance in the first nine months of the year showcased positive growth, particularly in the Asian market, while the American market faced challenges. With its robust brand portfolio and strategic licensing agreements, Marcolin is well-positioned to navigate the evolving eyewear industry and seize growth opportunities in various regions.
Useful Links:
1. Marcolin Official Website
2. The Estée Lauder Companies Official Website
