×
457
Fashion Jobs
ESME CONSUMER PVT.LTD
Area Sales Manager
Permanent · Asansol
SUN PHARMA
Manager - Project Management Office(Pmo)
Permanent · Guwahati
ESME CONSUMER PVT.LTD
Area Sales Manager
Permanent · Bengaluru
ESME CONSUMER PVT.LTD
Area Sales Manager
Permanent · Aurangabad
ADITYA BIRLA FINANCE
Sales Manager - Business Loan - Dsa Channel For Gujarat Location
Permanent · Bharuch
NATURES ESSENCE
Area Sales Manager
Permanent · Ahmedabad
DR LAL PATHLABS
Area Sales Manager- Haldwani | dr Lal Pathlabs
Permanent · Haldwani
360 REALTORS
Sales Team Leader/Area Sales Manager/Sales Manager
Permanent · Pune
NIKE
Lead Technical Product Manager, ed&a – Tpmo
Permanent · Bengaluru
PENNAR INDUSTRIES
Sales Manager - Solar Panel
Permanent · Hyderabad
ADIDAS
Manager Information Security
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant
Permanent · GURUGRAM
ADIDAS
Senior Manager Information Security
Permanent · GURUGRAM
ADIDAS
Manager Information Security
Permanent · GURUGRAM
DANIEL WELLINGTON
IT Support Specialist
Permanent · NAVI MUMBAI
NIKE
Manager, Product Management, Partners & Marketplace Engineering – Tpmo
Permanent · Bengaluru
BAJAJ FINANCE
Area Sales Manager
Permanent · Bengaluru
CHAMPION JOINTINGS
Area Sales Manager - Banglore - Coimbatore - Chennai
Permanent · Mumbai
CHAMPION JOINTINGS
Area Sales Manager - Hyderabad - Vishakapatnam
Permanent · Mumbai
DIAMOND WHITE CEMENT
Area Sales Manager/ Sales Officer/ Sales Manager- Paints & Putties
Permanent · Begusarai
DIAMOND WHITE CEMENT
Area Sales Manager/ Sales Officer/ Sales Manager- Paints & Putties
Permanent · Begusarai
Translated by
Nicola Mira
Published
Nov 2, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Eyewear group Safilo’s revenue down by 9% in Q3

Translated by
Nicola Mira
Published
Nov 2, 2018

Italian eyewear group Safilo had a tough third quarter, posting a revenue of €221.5 million, down 9% at current exchange rates compared to the same period in 2017. The situation was similar over the first nine months of the year, with revenue down 9.7% to €713.7 million, compared to €790.5 million in 2017.


The third quarter 2018 was troubled for Safilo - safilogroup.com

 
In the third quarter, operating margin was 50.7% of net sales, an improvement of 120 basis points over the 49.5% margin recorded in the same period the previous year (+180 basis points at constant exchange rates), while adjusted EBITDA was 5.4% of sales, for a loss of 90 basis points compared to the figure of 6.3% recorded in the third quarter 2017.
 
“In the third quarter, we accelerated the important work on the fundamentals on which we aim to build our new 2020 business plan. In Europe and North America, where we aim to bolster the business, we are progressing in stepping up core capabilities in the areas of customer care and service levels, and we are seeing an improvement in the business performance trends since beginning of September,” said Safilo CEO Angelo Trocchia.

“The work is also ongoing in Asia and Latin America, where in each of the regions we recently appointed new, seasoned leaders with industry experience, who will help us to develop a more effective operating model in important markets like Brazil, China and Japan. On the cost savings front we are progressing well, both at the COGS level and in the area of our overhead expenses. In the quarter, this allowed us to improve the gross margin, and to hold up well at the adjusted EBITDA level where at constant exchange rates we were in line with last year,” added Trocchia.
 
Looking at the results by geographical area, sales in Europe were down 8% at current exchange rates in the first nine months of 2018, reaching €331.6 million, and were down 7.1% in Q3, to €91.7 million. North America struggled too, posting a 13.8% downturn over nine months (€280.3 million) and a 6.7% one in Q3 (€96.6 million).
 
Asia-Pacific instead grew, generating a revenue of €47.9 million (+5%) over nine months, though this region too suffered in Q3, posting a -7.7% result (€15.4 million). As for the rest of the world, sales over nine months were €53.9 million (-8.9%), and those in Q3 were worth €17.9 million, down 26.8%.

Copyright © 2022 FashionNetwork.com All rights reserved.