Safilo Group S.p.A. reported preliminary net sales in the fourth quarter equaled €249.1 million, up 1.3 percent at constant exchange rates and 1.8 percent at current exchange rates compared to the same period of 2017. The performance of the wholesale business was negative by 4.1 percent at constant exchange rates.
For the year, preliminary net sales for 2018 equaled €962.9 million, down 4.0 percent at constant exchange rates and 7.0 percent at current exchange rates compared to €1,035.3 million in 2017
The performance is substantially in line with the expectation formulated by the Group on the net sales for the year (a decline of around 3 percent at constant exchange rates and around 6 percent at current exchange rates). The wholesale business declined by 5.1 percent in 2018 at constant exchange rates.
Preliminary net sales by geographical area:
In terms of operating performance, Safilo expects that the cost saving program executed in the second half of the year will allow the Group to close the year with an adjusted EBITDA4 margin close to 5%, at the high end of its expectation range for the year of 4 percent to 5 percent.
Safilo’s portfolio encompasses: own core brands Carrera, Polaroid, Smith, Safilo, Oxydo, and licensed brands: Dior, Dior Homme, Fendi, Banana Republic, BOSS, Elie Saab, Fossil, Givenchy, havaianas, HUGO, Jimmy Choo, Juicy Couture, kate spade new york, Liz Claiborne, Love Moschino, Marc Jacobs, Max Mara, Max&Co., Moschino, Pierre Cardin, rag&bone, Rebecca Minkoff, Saks Fifth Avenue, Swatch, and Tommy Hilfiger.
