Marcolin reports sales growth
The company celebrated positive results in the first six months of the year “despite a very complex macroeconomic and geopolitical context”
07 August 2023
Marcolin saw net sales in the first half of 2023 grow by 8.8% compared to the same period in the previous year.
Reporting financial results for the first six months of the year, the company shared that sales amounted to €308.7million (£263.9m).
The company suggested these results confirmed its business strategy, adopted in recent years, “as capable of recording positive results despite a very complex macroeconomic and geopolitical context.”
A number of factors contributed to the positive results, Marcolin reported, including the consolidation of several brands in the portfolio.
The implementation of a digital transformation was also key, the company suggested, along with a continued push for efficiency.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) for the period amounted to €51.2m (£43.8m). This marked an increase of 26.4% compared to €40.5m (£34.6m) in the same period in 2022.
The adjusted EBITDA margin was also positive, the company shared, reaching 16.6% of net sales, compared to 14.3% in the first six months of 2022.
Marcolin saw growth in Asia, which it described as a high potential market, reporting +125.3% performance at constant exchange rates, while the Europe Middle East and Africa (EMEA) market also improved 9.3%. Performance in the US market was in line with results from 2022.
The company ended the first half of the year with a positive net result of €15.5m (£13.3m), an increase compared to the €8.8m (£7.5m) seen in the same period last year.
In the second quarter of 2023 alone, Marcolin reported revenue of €156.4m (£133.7m), and adjusted EBITDA of €27.6m (£23.6m), compared to €22.3m (£19.1m) in the second quarter of 2022.