Safilo Reports Full Year 2020 Preliminary Sales
Tuesday, February 2 2021 | 15 h 41 min | Financial News, Press Release
The Board of Directors of Safilo Group has examined the Group’s preliminary net sales for the financial year ended December 31, 2020. The full year annual results will be approved by the Board of Directors on March 11, 2021.
Safilo’s preliminary 2020 net sales equaled Euro 780.3 million, down 15.2% at constant exchange rates and 16.9% at current exchange rates compared to Euro 939.0 million recorded in 2019, due to the sharp decline following the severe lockdowns to fight the Covid-19 global pandemic.
The main drivers of the Group’s Q4 2020 net sales performance were:
- The resilience of the North American wholesale business, up 8.9% on an organic basis excluding the acquisitions and at constant exchange rates. Q4 total sales in North America were up 27.0% at constant exchange rates and 19.2% at current exchange rates, thanks to the contribution of Privé Revaux and Blenders Eyewear;
- The challenging trading conditions in Europe, where net sales declined by 18.0% at constant exchange rates (-16.0% for the wholesale business) and 19.4% at current exchange rates.
- A business rebound in Asia Pacific, with the quarterly sales up 28.1% at constant exchange rates and 24.1% at current exchange rates, from -6.4% in Q3 2020.
The progress of Safilo’s online sales in Q4 stands at around 12% of the Group’s net sales (from around 4.5% in the same period of 2019), thanks to the contribution of Blenders and Privé Revaux’s e-com activities, and to an organic online sales growth of +60.9% at constant exchange rates, driven by Smith’s D2C channel and by the Group’s sales generated through internet pure players.
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