Italian eyewear group Marcolin has reported a marked improvement in its profit margin in the first nine months of 2024, despite a 3.2% slump in net sales at current exchange rates (and a 2.8% one at constant rates), down to €408 million.

Adjusted EBITDA was €65.7 million, equivalent to a 16.1% margin on net sales, up from 15.3% in the same period the previous year.
 
Net sales in like-for-like terms (excluding sales for new brands introduced in 2024, and for those that were discontinued) were up 0.6% at current exchange rates and 1% at constant rates.

EMEA and the Americas were again the group’s main markets, generating revenue of, respectively, €202 million (up 3.6% in like-for-like terms) and €151 million (down 6.4% in like-for-like terms). Marcolin’s performance in Asia was also positive in the period, confirming the strong growth trend of the last few years.
 
The group’s net adjusted financial position was €337.4 million, up by €6.9 million compared to the result as of December 31 2023, thanks to the positive cash flow generated by the business.
 
In the first nine months of 2024, Marcolin has renewed licence deals with Zegna, GCDS, Max & Co. and Skechers, and has inked new exclusive deals for the eyewear lines of Christian Louboutin, K-Way and Abercrombie & Fitch.