MILAN—The Board of Directors of Marcolin Group, one of the world's leading eyewear companies, approved on Nov. 3 the economic and financial results of the Group as of Sept. 30, 2022. The Group net sales in the first nine months of the year rose by 21.0 percent based on current exchange rates compared to the same period of 2021, an increase of 13.9 percent at constant exchange rates, amounting to €409.7 million. The results, the company noted, confirmed the positive performance recorded in the first half of 2022. In the third quarter period of 2022, the Group's net sales were €126.1 million, with an increase of 24.3 percent year over year.

The company added that compared to the same period of the previous year, sales increased in all geographical areas (figures at current exchange rates), notably in EMEA (+22.2 percent) and the Americas (+19.6 percent), which together account for more than 90 percent of net sales. Marcolin said it also had a net sales increase in Asia (+21.5 percent), which it called a high-potential area for the Group.

Adjusted EBITDA amounted to €50.5 million, compared to €42.0 million reported as of Sept. 30, 2021. The trend in the adjusted EBITDA margin was equally positive, standing at 12.3 percent of net sales. The company stated, "These results were achieved thanks to an excellent sales mix, both in terms of brands and distribution channels, and the continuous effort on production and distribution efficiency, despite the increase in inflation which mainly impacted transportation and electricity costs. Finally, it should be also considered a push on marketing investments to support future expected sales."

Marcolin Group's eyewear and sunwear brand portfolio includes: Tom Ford, Guess, adidas sport, adidas originals, Bally, Moncler, Max Mara, Sportmax, Zegna, Longines, Omega, GCDS, Barton Perreira, Tod's Pucci, BMW, Swarovski, Max&Co., Kenneth Cole, Timberland Gant, Harley-Davidson, Marciano, Skechers and Candie's. Among its house brands are WEB Eyewear, Marcolin and Viva.