LONGARONE and MILAN, Italy—The board of directors of Marcolin approved the economic and financial results of the group as of March 31, 2024. In the first three months of 2024, Marcolin has continued to consolidate its performances, in line with the results registered in 2023, carrying out its growth path undertaken in recent years, according to an announcement from the company. The group saw a significant increase in marginality, with adjusted EBITDA standing at €25.7 million, up by 8.5 percent compared with the first quarter of 2023. The impact on net sales was positive, equal to 17.6 percent (compared with 15.5 percent for the same period in the previous year). The group said these results show further confirmation of the product portfolio management strategy and the industrial plans carried out so far.

The group’s net sales stands at €145.6 million, recording a decrease of -4.4 percent (-3.8 percent at constant exchange rates) compared with the previous year. On a like-for-like basis (excluding the positive impact of the new brands in 2024 together with the negative impact of the brands discontinued in 2023), net sales were substantially in line with the previous year (-0.4 percent at current exchange rate, +0.3 percent at constant exchange rate).

The group’s main geographical areas in the first three months of 2024 were EMEA and the Americas, which respectively recorded revenues of €73.1 million (+2.2 percent on a like-for-like basis) and €52.0 million (-7.4 percent on a like-for-like basis). Double-digit growth continues in a high potential market like Asia, the company said.

The net profit recorded in the quarter amounted to €7.3 million (increasing over 7 percent compared to the first quarter of 2023). The adjusted net financial position amounted to €355.1 million, an increase of €10.7 million compared with December 31, 2023, due to the seasonality of the business typical of the first quarter.

In the first months of the year, Marcolin announced significant licensing renewals with GCDS, ZEGNA, MAX&Co. and Skechers. In addition, the group has entered into an exclusive partnership with Christian Louboutin, with the brand debuting for the first time in its history in the eyewear segment, and with K-Way, for which the group will design, produce and distribute sunglasses, optical frames, ski goggles and kids eyewear proposals, as reported by VMAIL.