Marcolin positive about first nine months of 2022

The eyewear company saw net sales rise 21% as of 30 September

Marcolin building
Marcolin has reported a positive performance for the first nine months of 2022, with a net sales rise of 21.0%, citing its sales mix and efforts in production and distribution efficiency.

The company saw net sales of €409.7 million (approximately £356.7 million) in the first nine months of the year, a rise of 21.0% compared to the same period in 2021.

In the third quarter of 2022, the group saw net sales of €126.1 million (approximately £109.7 million), an increase of 24.3% year-on-year.

As of 30 September 2022, sales increased in all geographical areas compared to the same period last year and at current exchange rates.

Increases were particularly notable in Europe, the Middle East and Africa (EMEA), with a rise of 22.2%, and the Americas of 19.6%, which combined accounted for more than 90% of net sales, the company said.

Marcolin also saw positive net sales increase in Asia by 21.5%, which the group identified as an area of “high potential.”

The adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) for the company was reported as €50.5 million (approximately £43.9 million). This is compared to €42.0 million (approximately £36.5 million) in the first nine months of 2021.

The company called its adjusted EBITDA margin “equally positive,” reporting a figure of 12.3% of net sales.

“These results were achieved thanks to an excellent sales mix, both in terms of brands and distribution channels, and the continuous effort on production and distribution efficiency, despite the increase in inflation which mainly impacted transportation and electricity costs,” the company shared. “Finally, it should be also considered a push on marketing investments to support future expected sales.”