Safilo, sales grow quarter4, 2023 down due to North American weakness

Safilo closed the last quarter of last year with an increase in net sales, up 1.7 percent at constant exchange rates, but shows a decline in the overall year due mainly to weakness in the North American market.

In a note, the eyewear group reports preliminary key figures for 2023 reporting adjusted gross margin at about 59 percent from 55.5 percent and Ebitda margin adj down slightly to about 9 percent from 9.4 percent.

Safilo has free cash flow of about 35 million and net debt dropped to about 83 million from 113.4 million at the end of 2022.

(Stefano Bernabei, editing Claudia Cristoferi)