(Finance) – Net sales of Safilo in the first quarter of 2022 they reached € 282.6 million, up 8.4% at constant exchange rates (+ 12.4% at current exchange rates) compared to the € 251.4 million recorded in the first quarter of 2021.
L’gross industrial profit amounted to 155.5 million euros, an increase of 22.8% compared to the first quarter of 2021, while the industrial margin, which rose to 55% of sales, recorded an improvement of 460 basis points compared to the margin by 50.4% recorded in the 1st quarter of 2021.
Adjusted EBITDA was € 32 million, up 23.8% compared to the first quarter of 2021, with the adjusted EBITDA margin
increased to 11.3% of sales (12.0% before the IFRIC SaaS impact), an improvement of 100 basis points compared to 10.3% recorded in the first quarter of 2021.
From a financial point of view, net debt of the Group as at 31 March 2022 amounted to 109.1 million euros (68.9 million euros pre-IFRS 16), recording a slight increase compared to 94.0 million euros (52.8 million euros before IFRS 16) as at 31 December 2021, mainly due to the normal seasonality of working capital.