Safilo Reports 1% H1 Growth, Profit Soars Over €40 Million

Safilo closes the first half of the year on an upward trend. The Italian optical company maintained its momentum in the first six months, a period marked by the renewal of its contracts with giants such as Under Armour or Kering and the closing of a deal with Victoria Beckham. The group, which is listed on the Milan Stock Exchange, has thus sealed a first half of the financial year with a turnover of €537.6 million, up 1.05% on the previous year.

The transalpine company’s gross profit reached €328.2 million, up almost 3% on the previous year, while gross operating profit (ebitda) stood at €70.2 million, compared to €50.6 million the previous year. Safilo particularly highlighted the renewal of some of its licensing agreements during the period, with giants such as Under Armour and Carolina Herrera, as well as its sourcing agreement with Kering.

Thus, at the end of the first six months, the company doubled its net profit to €41.7 million, compared to the €17.6 million it earned in the same period a year ago. Adjusted profit, meanwhile, reached €33.7 million, up from €24.2 million in 2024. “We closed the first half of the year with a gross margin of 61.1%, achieving our goal of turning business improvement into a solid operating result,“ said Angelo Trocchia, the group’s CEO.

Safilo has signed a new licensing agreement for Victoria Beckham’s eyewear division

Along with contract renewals, Safilo’s first half of the year has also been marked by the sale of optical products manufacturer Lenti, as well as the discontinuation of the subsidiary with which the company operated. It was precisely the French conglomerate Kering that took over Lenti at the beginning of June, as part of the strengthening of its control over its supply chain.

By markets, Europe maintains its leadership in terms of turnover, where the group recorded sales of €243.1 million, 1.7% more than in the first six months of the previous year. It is closely followed by the North American market, where Safilo closed the period with sales of €220.9 million, another 1.5% more.

It is in Asia Pacific, however, where the company posted its best performance, with sales up 14.1%, which translated into sales of €30.2 million at the end of the half-year. In the rest of the world, Safilo’s business did suffer, down 10.8% on the previous year, to reach sales of 43.5 million.

The group’s good half-year was also accompanied by an improvement in cash flow, which reached €40.7 million, an “exponential growth” compared to the €27.3 million of the same period last year, the company celebrated. Safilo attributed this increase to both improved inventory control and a reduction in its sourcing from China.