(Finance) – In the first quarter of 2024, net sales of Safilo they stood at 277.2 million euros, down 1.8% at constant exchange rates and 3.5% at current exchange rates compared to the 287.2 million euros recorded in the 1st quarter of 2023. On the performance of the period affected by the reduction in sales of Jimmy Choo, a licensed brand not renewed at the end of December 2023 and in phase-out until 30 June 2024.
During the period, thegross industrial profit it amounted to 166.2 million euros, down 1% compared to the first quarter of 2023, while the gross industrial margin improved by 160 basis points, going from 58.4% to 60.0%.
In the period, the adjusted EBITDA amounted to 32.0 million euros, down by 1.3% compared to the 1st quarter of 2023, while the adjusted EBITDA margin improved to 11.5%, from 11 .3% recorded in Q1 2023.
L’net debt of the Group at 31 March 2024 stood at 81.3 million euros (approximately 41.8 million euros pre-IFRS 16), from 82.7 million euros (43.7 million euros pre-IFRS 16), registered as of December 31, 2023.