Safilo Group: Board of directors approves theresults for fiscal year 2024
Solid financial performance, strengthening of the brand portfolio and commitment to sustainability
Safilo ended 2024 with net sales of 993.2 million, registering a decrease of 2.3 percent at constant exchange rates, mainly due to the exit of the Jimmy Choo license. Europe showed showed growth of 1.6 percent, while North America posted a decline of 5.2 percent, hurt by the sports sector and weakness in eyewear sunglasses.
The brand portfolio was strengthened with the acquisition of the perpetual license for Eyewear by David Beckham, bringing the brands it owned to about 50 percent of sales. Gross industrial margin reached reached 59.7 percent, with adjusted EBITDA at 9.4 percent and adjusted net income more than doubled to 34.2 million euros.
The company reduced Scope 1 and 2 emissions by 19 percent compared to 2023 and increased the share of sustainable collections to 23%. The cash flow from operating activities increased to 76.2 million euros and net debt remained stable at 82.7 million euros. The board of directors also also approved a new buyback plan for up to 15 million shares.
For 2025, Safilo is focusing on operational flexibility, the improvement of margins and sales growth, addressing a market still uncertain with a strategy of sustainability and innovation.