Safilo full year results 2015

Safilo total net sales for 2015 equaled Euro 1,279.0 million, recording an increase of 8.5% thanks to foreign exchange tailwind. The performance of the Group’s going forward brands portfolio, i.e. excluding all brands that Safilo stopped and will stop servicing, showed growth of 13% at current exchange rates and 4.3% at constant exchange rates. At the operating level, 2015 gross margin moved from 61.0% to 59.2% of sales while adjusted2 EBITDA margin stood at 8.0% of sales vs. 10.0% in 2014. Luisa Delgado, Safilo CEO, commented: “2016 will be a further important year of transition, including the final period of the Gucci license, and we anticipate continued growth of our core license brand portfolio to be complemented with an acceleration of growth on our core own brands”.