Safilo’s Shareholders’ Meeting Approves 2019 Financial Statements
The Shareholders’ Meeting of Safilo Group, held by phone, has approved the Company’s 2019 financial statements and the Board of Directors’ report.
Safilo closed 2019 with the net sales at Euro 939.0 million, up 3.1% at current exchange rates and 0.9% at constant exchange rates compared to Euro 910.7 million in 2018.
2019 Gross profit grew by 5.3% to Euro 477.2 million compared to Euro 453.2 million in 2018, with the margin on sales increasing to 50.8% from 49.8% in the previous year.
Fourth quarter adjusted EBITDA equalled Euro 7.9 million, with the margin on sales at 3.4%. This result compared to Euro 13.3 million reported in the fourth quarter of 2018, which however included the income of Euro 9.8 million for the early termination of the Gucci license.
Click HERE for the full annual report.
Click HERE for the complete press release.