Marcolin, the eyewear company, has announced impressive financial results for the latest quarter, as the demand for eyewear continues to soar. In the first nine months of 2022, Marcolin’s net sales increased by a remarkable 21% compared to the previous year, reaching a total of €409.7 million. When considering constant exchange rates, this growth equates to an impressive 13.9%. Moreover, the company’s adjusted EBITDA rose to €50.5 million, up from €42 million in the same period last year.

These positive figures for the nine-month period indicate that Marcolin’s performance in the third quarter has built upon the upward trend witnessed in the first half of 2022. In Q3 alone, the group’s net sales increased by a substantial 24.3%, totaling €126.1 million. Interestingly, the company witnessed growth in all geographical regions, with notable increases seen in EMEA (+22.2%) and the Americas (+19.6%), which together constitute more than 90% of the net sales. Additionally, sales also experienced growth in the promising Asian market, where there was a 21.5% increase.

Marcolin attributes these positive results to a strong sales mix of brands and distribution channels, coupled with its continuous efforts to enhance production and distribution efficiency. Despite the adverse impact of inflation on transportation and electricity costs, the company managed to achieve a favorable trend in the adjusted EBITDA margin, which stood at 12.3% of net sales. Marcolin also emphasized its investment in marketing strategies to further support future sales growth.

Known for producing eyewear for various renowned brands such as Adidas, Bally, Zegna, Emilio Pucci, Moncler, Sportmax, Tod’s, and Tom Ford, among others, Marcolin’s success comes on the same day that Safilo, another eyewear specialist, reported robust figures. This indicates a positive outlook for the eyewear sector overall. The demand for designer sunglasses was particularly high in Q3 due to the unusually hot weather experienced across many parts of Europe. These positive results follow a challenging period for the industry, with the COVID-19 pandemic disrupting summer holidays and dampening the demand for summer accessories.

Useful links:
1. Marcolin Official Website
2. Safilo Official Website