(Finance) – The Board of Directors of Safilo Group He examined today the main preliminary data of the year closed at 31 December 2024. The economic-financial results of the entire financial year will be approved by the Board of Directors on March 11, 2025.
In 2024the Net sales Safilo preliminaries were equal to 993.2 million euros, recording an overall drop of 2.3% to constant changes and 3.1% to current changes compared to 2023. The contraction explains the company in the note of the accounts, It is due to the end of the Jimmy Choo license. Net of this impact, sales trend has been slightly positive, driven by the solidity and resilience of European business.
In the 4th quarterthe sales trend has improved compared to the previous quarters of the year, highlighting a contraction of 1.1% to constant changes and 1.6% to current changes, to which in particular the resumption of emerging markets has contributed . Net of the residual effect of Jimmy Choo’s exit, the quarter was positive by almost 2%.
In terms of Ebitda Adjusted, the group’s operating performance was resilient despite the pressure of revenues on the operating lever. On a preliminary basis, the exercise was in fact closed with a margin of 9.4%, improving 40 basis points compared to 2023. In the 4th quarter, the Ebitda Adjusted margin, equal to 7.5%, improved to 60 basic points compared to the same quarter of 2023.
On the cash generation front, the Free cash flow Of the 4th quarter it was positive for 18.9 million euros, bringing the flow of the year to 16.7 million euros, including the investment to acquire the perpetual license of theyewear by David Beckham.
On a preliminary basis, net financial debt of the group in the year, which also takes into account the completion of the purchase program of its own shares for 11.8 million euros, remained stable compared to 2023, to 82.7 million euros (40.3 million euros IFRS 16, improving about 3 million compared to 2023).
Looking at 2025“Safilo remains focused on the strengthening and growth of its brands portfolio, focusing on an increasingly targeted use of resources and investments. The economic and financial improvement reached in 2024 represents a solid base to seize the opportunities of the new year”.