First Half Sales and Profits Indicate Safilo has Turned the Corner
Safilo Group reports first half 2019 (H1) sales are +6.5% and profits (adjusted EBITDA) +25% versus the same 6-month period in 2018.
Safilo house brands, including Polaroid, Smith and Carrera, out paced the total company showing 8% year over year growth. By deduction, this indicates that licensed brands in total pulled the overall results down. Safilo however highlights licensed in brands Dior, Hugo Boss, Tommy Hilfiger and Max Mara as key growth drivers.
North America (accounting for 34% of total sales ) made the largest contribution to growth, pulling in +7.8% on the top line. Asia remains the fastest growing region for the Group, but contributing only 9% of Group revenue. Europe, Safilo’s largest sales region, showed modest revenue growth of 2.6%