05 April 2023
Marcolin has seen net sales rise by 20.1% in 2022, which CEO and general manager, Fabrizio Curci, noted comes at a time of “great dynamism and change” for the sector.
The Board of Directors of Marcolin presented a draft of the Group’s financial statements for the year ended 31 December 2022, which will be subject to approval in an April shareholder meeting.
The company has reported that net sales in 2022 amounted to €547.4 million (approximately £478.3 million), up 20.1% compared to the previous year at current exchange rates.
Compared to 2021, Marcolin reported improved performance in all geographic areas.
Europe, the Middle East and Africa (EMEA) saw a growth of 18%, and Americas recorded a boost of 17%, while together the geographic areas accounted for approximately 90% of revenue.
The company pointed to Asia as a “high potential market” where it has seen significant growth of 47% at current exchange rates.
Adjusted EBITDA reached €61.0 million (approximately £53.3 million), showing an increase of 21.7% compared to €50.1 million (approximately £43.7 million) in the previous year. The EBITDA margin reached 11.1% of net sales.
The company explained that a number of factors contributed to the positive results, including the consolidation of several brands in the portfolio, the implementation of a digital transformation process and a continuous push towards production and procurement efficiency.
The net financial position amounted to €137.4 million (approximately £120.1 million), the company shared, an improvement of €10.7 million (approximately £9.4 million) compared to the previous year.
Marcolin highlighted its continued commitment to sustainability through initiatives in 2022, including obtaining ISO 13485 certification.
Fabrizio Curci, CEO and general manager of Marcolin, commented: “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.”
The 2022 results will drive the company’s divisions to “elevate our expectations even higher,” Curci said: “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.”
Pictured: Fabrizio Curci, CEO and general manager of Marcolin
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