Safilo has reported a preliminary revenue result for 2024 of €993.2 million, equivalent to a 2.3% decrease at constant exchange rates (and a 3.1% one at current rates) compared to 2023. The downturn is due to the “end of the Jimmy Choo license,” said the Italian eyewear group in a press release.

The sales trend in Q4 was better than in previous quarters, with Safilo posting a 1.1% decline at constant exchange rates and a 1.6% one at current rates, notably thanks to an improved performance in emerging markets.

In 2024, Safilo’s revenue in Europe grew 1.6% at constant exchange rates, while the North American market slumped by 5.2% at constant exchange rates. Revenue in Asia-Pacific and the rest of the world declined by 2.1% and 5.9% respectively at constant exchange rates in 2024.

Gross industrial margin for the year was 59.7% of sales, an improvement of 100 basis points compared to the adjusted result achieved in 2023. In terms of adjusted EBITDA, Safilo’s operational performance was “resilient despite the revenue pressure on the operating leverage,” said the group. On a preliminary basis, the year ended with a margin of 9.4%, an improvement of 40 basis points over 2023.

Looking forward to 2025, Safilo remains focused on strengthening and growing its brand portfolio, and is concentrating on an increasingly targeted use of resources and investments.