Safilo Group’s board of directors reviewed and approved the company’s Q1 2023 economic and key performance indicators. Angelo Trocchia, Safilo Group Ceo, commented, “The first quarter of 2023 broadly met our expectations for the beginning of the year, reflecting the continuation of some of the main business drivers that had characterized the second half of last year. Our sales, on the whole substantially stable compared to the same period of 2022 and growing by 3.2 percent at the organic level, were driven by our home brands and our core licenses registering again good progress in emerging countries and above all in Europe, where the various markets of the area continued to expand nicely. On the profit side, we are pleased with the continuation of our journey toward a better gross margin, which in the period grew to 58.4 percent of sales, up by 340 basis points compared to the first quarter of 2022, but we are also pleased to confirm an adjusted Ebitda margin in line with last year, at 11.3 percent of revenues, as we continued investing in marketing activities dedicated to our home brands and in supporting the development of our digital infrastructure and services.”

June 2023