Safilo Board of Directors Approves 2017 Financial Results
Safilo Group’s net sales declined by 15.5% at constant currency compared to 2016, of which 12.3% was attributed to the change of the Gucci license to a supply agreement.
The Group’s net sales were 1047 million Euro in 2017, a contraction of 194 million Euro compared to last year. Sales of the “Going Forward Brand Portfolio” were reduced by 3.9%, while sales in the “Own Core Portfolio” increased slightly, in particular due to growth in emerging markets.
The Board of Directors also decided against proposing a dividend payout at the next Annual General Meeting.
Safilo posted a net loss of 47.1 million Euro in 2017, compared with the net profit of 15.4 million Euro in 2016.
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