Safilo’s 2024 budget
The Safilo group recently announced preliminary results for the year 2024, showing net sales of 993.2 million euros. This represents a decrease of 2.3% at constant exchange rates and 3.1% at current exchange rates compared to the previous year. The Venetian company attributed this contraction mainly to the conclusion of the license for the Jimmy Choo brand, a factor that had a significant impact on overall performance
.
Analysis of sales and markets
Despite the general decline, Safilo emphasized that, excluding the effect of the license, the sales trend showed signs of stability, especially thanks to the strength of the European business. However, the North American market presented greater challenges, with disappointing performance in the sunglasses and sporting goods segments. This complex scenario required a strategy of adaptation and innovation to address the difficulties.
The fourth quarter and future prospects
Looking at the fourth quarter, Safilo recorded an improvement compared to previous quarters, with a contained contraction of 1.1% at constant exchange rates and 1.6% at current exchange rates. This improvement was partly fueled by the recovery in emerging markets, which showed greater resilience. In terms of adjusted EBITDA, operating performance maintained a margin of 9.4%, up 40 basis points compared to 2023, indicating effective management despite
pressure on revenues.