The board of directors of Safilo Group has reviewed and approved the main economic and financial indicators for the third quarter and first nine months of 2023. In these nine months, Safilo’s performance in Europe recovered most of the sales decline in the former Grand Vision chains, while trends in North America remained soft. Thanks to the Group’s sports businesses, Q3 sales performance was better than Q2. Safilo Group also experienced a marked increase in gross margin, while higher digital and marketing investments weighed on adjusted Ebitda margin. The Group experienced a positive free cash flow and lower net debt. In addition, Safilo Group announces that it has executed an agreement with Multibrands Italy B.V., the reference shareholder of the company, and Angelo Trocchia, Ceo, which regulates the renewal of the office of the same as Ceo of the company for a further three years. Pursuant to the agreement, Multibrands Italy B.V. has confirmed Trocchia as Director and, subsequently, Ceo of Safilo Group S.p.A. Trocchia will also be confirmed as Sole Director of Safilo S.p.A. and Safilo Industrial S.r.l., subsidiaries of Safilo Group.

December 2023