LONGARONE, Italy—Marcolin Group reported positive sales and income gains for the first fiscal half of the year, the six months ending June 30, 2023, the company said, noting that on July 27, the board of directors approved the condensed consolidated financial results. In the first half of 2023 net sales amounted to €308.7 million, with an increase of 8.8 percent at current exchange rates (+8.7 percent at constant exchange rates) compared to the same period of the previous year, "confirming the business strategy adopted by the company in recent years as capable of recording positive results despite a very complex macroeconomic and geopolitical context."

Compared to the same period of the previous year, Marcolin's performance continued to grow, the company said, in a high potential market such as the Asian market (+125.4 percent at current exchange rates and +125.3 percent at constant exchange rates). The EMEA also improved (+8.7 percent at current exchange rates and +9.3  percent at constant exchange rates). Performance on the American continent was in line with the first half of 2022, the company said, noting that together with Europe, America represents the main market for the group.

Adjusted EBITDA amounted to €51.2 million, marking an increase of 26.4 percent compared to €40.5 million in the same period of the previous year. The trend in the adjusted EBITDA margin was equally positive, reaching 16.6 percent of net sales (compared to 14.3 percent in the first half of 2022).

Marcolin also said the group closed the first six months of the year with a positive net result of €15.5 million (an increase compared to the €8.8 million of the first six months of 2022).

The company noted, "Various factors contributed to the achievement of these important results, including the consolidation of the numerous brands in the portfolio, the implementation of a digital transformation process based on the central role played by the relationship with customers in all its phases, and the continuous push toward efficiency in production and procurement."

For the second quarter of 2023, Marcolin generated revenues of €156.4 million, in line with the same period of the previous year (+1.6 percent at current exchange rates). Adjusted EBITDA was €27.6 million (equal to 17.6 percent of net sales), compared to €22.3 million in the second quarter of 2022 (equal to 14.5 percent of net sales).