Marcolin: Margins Still Improving in the First Half of 2024, Revenues in line. Licences Portfolio expanded

The Board of Directors of Marcolin approved the economic and financial results as of 30 June 2024

In the first six months of 2024, marginality is particularly positive: adjusted EBITDA equal to €52.7 million, grew by 2.9% compared to €51.2 million in the first half of 2023. The impact on net sales was positive standing at 17.7% (compared to 16.6% in the same period of the previous year).

Revenues stands at €297.6 million, down 3.6% compared to the same period in the previous year. On a like-for-like basis (excluding the positive impact of new brands in 2024 together with the impact of discontinued brands), revenues increased by 0.6%.

The main markets in 2024 were EMEA and the Americas, recording revenues of €149.6 million (+2.1% on a like-for-like basis) and €106.6 million (-4.7% on a like-for-like basis), respectively. The Asian market, with high potential for the Group, consolidated the growth trend of recent years, posting double-digit growth in the half year.

The adjusted net financial position amounted to €338.0 million, an improvement of €6.4 million compared to 31 December 2023 thanks to the positive cash flow generated by operating activities, despite the typical cash absorption of net working capital due to the seasonality of the business in the first half of the year.

Early this year, Marcolin announced licence renewals with ZEGNA, MAX&Co., GCDS and Skechers. It also entered an exclusive partnership with Christian Louboutin, which will lead to the brand's debut in the eyewear category for the first time in its history. Moreover, it has been added K-Way®, for which the Group will be responsible for the design, production and worldwide distribution of sunglasses, optical frames, ski goggles and kids' eyewear proposals.