INTERNATIONAL. Leading eyewear group Safilo has reported a strong set of annual results for 2021, with net sales reaching €969.6 million. This was a leap of +26.3% compared to 2020 and significantly, +7.5% above 2019 at constant exchange rates.
Adjusted EBITDA rose by +25.7% year-on-year to €81.5 million. The group also revealed adjusted net profit for the year of €27.4 million compared to a €50.1 million loss in 2020.
Safilo Chief Executive Officer Angelo Trocchia commented: “The extraordinary work done in 2021 by Safilo people around the world was rewarded with very important results, which highlighted a strong rebound of the business compared to 2020 and, more meaningfully, a significant improvement compared to the pre-pandemic levels in 2019.
“We closed the year over-delivering on our initial expectations, with our business performance very much driven by our organic sales, up +10.5% compared to 2019, and the effectiveness of the brand portfolio overhaul strategy implemented over the recent years through the addition of new proprietary and licensed brands.
“North America was our key growth driver against the backdrop of a strong post-Covid rebound in the United States and our strategic choice, initiated some years ago, to invest in the market through a stronger commercial organisation.”
2021 was a record year for Smith, which became the biggest brand in the portfolio, aided by sales in the US, which were further boosted by ecommerce sales.
By brand, the company cited strong performance from Smith, Carrera, Kate Spade, Tommy Hilfiger and Hugo Boss. It also said that the acquisitions of Privé Revaux and Blenders and the launch of the new licences for David Beckham, Missoni, Levi’s, Isabel Marant, Ports and Under Armour helped compensate for the business decline derived from licence terminations at the end of 2020 and in June 2021.
