Safilo Reports Strong H1 Performance Driven by Asia-Pacific Growth and Strategic Initiatives

Safilo Group reports a positive first half of the year, driven by robust sales in the Asia-Pacific region and strategic operational measures. The Italian eyewear manufacturer experienced a 2.3% increase in revenue, reaching €537.6 million, supported by strong performances across various markets. Adjusted net profit improved significantly, rising to €33.7 million from €24.2 million in the same period last year. The company's gross margin expanded to 61.1%, and EBITDA margins increased to 11.6%, reflecting improved profitability. Despite these gains, overall sales experienced a slight slowdown in the second quarter, with total sales decreasing marginally to €251.9 million from €254.8 million in the previous year. North America saw a 1.1% decline, affected by currency fluctuations, while the Asia-Pacific region grew by 8.2%, offsetting declines elsewhere. Strategic responses included diversifying supply chains away from China, sourcing more from Southeast Asia, and contemplating an expansion of U.S. manufacturing capacity. The company also highlighted positive developments in licensing agreements, notably with Carolina Herrera, and the addition of Victoria Beckham to its brand por...