Marcolin: margin and net sales continue to grow in the first quarter 2025

In Q1 2025, the Group reported a 2.3% increase in Adjusted EBITDA to €26.3 million, revenues up by 1.2%, and renewed the Max Mara eyewear license until 2032.

On May 8, 2025, the Board of Directors of Marcolin, among the global leading groups in eyewear, approved the consolidated financial results as of March 31, 2025.

In the first three months of 2025 Marcolin continued to strengthen its performance, in line with the positive results recorded in FY2024, continuing the virtuous path undertaken in recent years, with significant impacts in terms of margins.

Adjusted EBITDA kept increasing, reaching €26.3 million (+2.3% vs 1Q2024). The impact on net sales was positive, equal to 17.8% (compared to 17.6% in the same period of the previous year), confirming the value strategy of license portfolio management and the strategic choices made so far.

Net sales in the first quarter of 2025 amounted to €147.3 million, +1.2% at current exchange rates (+0.5% at constant exchange rates) compared to the same period of the previous year. On a like-for-like basis (excluding the positive impact of new brands in 2025 and the impact of discontinued brands in 2024), net sales increased by 2.0% at current exchange rates.

Group main geographic markets were EMEA and the Americas, which reported net sales of €79.2 million (+8.3% at current exchange rates, +7.8% at constant exchange rates) and €50.1 million (-3.7% at current exchange rates, -4.3% at constant exchange rates), respectively. The Asian market continued to represent a high potential area for the Group, despite a temporary deceleration attributable to different sourcing timing from large APAC distributors.

Adjusted Net Financial Position amounted to €336.5 million, an increase of €15.2 million compared to December 31, 2024, due to the typical business seasonality in the first quarter.

During the first three months of the year, Marcolin announced the early renewal until 2032 of its license agreement for the design, production and international distribution of Max Mara sunglasses and optical frames, confirming and further strengthening the partnership signed in 2020.