LONGARONE and MILAN, Italy—On March 25, 2024, the board of directors of Marcolin presented the draft of the Group’s separate and consolidated financial statements for the year ended December 31, 2023. These statements will be subject to approval by the shareholders’ meeting on April 4, 2024. Although the period was characterized by international geopolitical instability and logistical complexity, Marcolin was able to consolidate its performance in 2023. In the year 2023, the Group’s consolidated net sales amounted to €558.3 million, with growth of 2.0 percent at current exchange rates compared to the previous year (+3.8 percent at constant exchange rates).

There was also a significant increase in terms of margins, with adjusted EBITDA reaching €78.1 million (+27.9 percent compared to €61.0 million in 2022). The trend in the adjusted EBITDA margin was equally positive, standing at 14.0 percent of net sales.

Marcolin confirmed its growth in the Asian market, up 81.5 percent at current exchange rates and 81.9 percent at constant exchange rates. The performance in the EMEA area was also positive: a 1.7 percent increase at current exchange rates and a 2.7 percent increase at constant exchange rates. The Group also strengthened its presence in the Central American market through the acquisition of the residual 49 percent from minorities of its subsidiary in Mexico.

In 2023, the Group recorded a net profit of €10.2 million (up €16.0 million compared to the previous year). The adjusted net financial position stood at €344.4 million, increasing by €178.2 million compared to the previous year due to strategic investments and transactions, financed both by available cash and by a good cash flow generation during 2023 deriving from operations and finally through a new €30 million term loan.

In 2023, Marcolin finalized two important strategic transactions: the perpetual license agreement for TOM FORD Eyewear, and the acquisition of ic! berlin GmbH, an independent eyewear brand founded in Berlin in 1996. Between the end of 2023 and the first few months of 2024, Marcolin announced license renewals with Pucci, Zegna, GCDS and MAX & Co. The Group has also entered into an exclusive license agreement with Christian Louboutin, which will lead the iconic French brand to debut in the eyewear category for the first time in 2025.