Luxury eyewear group Marcolin has reported a positive performance for Q1 2024, maintaining the “virtuous growth path” undertaken in recent years.

For the first three months of this year, adjusted EBITDA stood at €25.7m (US$27.9m), an increase of +8.5% compared with the first quarter of 2023.

The Group’s net sales stood at €145.6m (US$158.2m), recording a decrease of -4.4% (-3.8% at constant exchange rates) over the previous year. However, on a like-for-like basis (excluding the positive impact of the new brands in 2024 together with the negative impact of the brands discontinued in 2023), net sales were substantially in line with the previous year (-0.4% at current exchange rate, +0.3% at constant exchange rate).

Net profit recorded in Q1 amounted to €7.3m (increasing over +7% compared with the first quarter of 2023). The adjusted net financial position was €355.1m, an increase of €10.7m compared with 31 December 2023, due to the seasonality of the business typical of the first quarter.

By region, Marcolin’s main geographical areas were EMEA and the Americas, which respectively recorded revenues of €73.1m (+2.2% on a like-for-like basis) and €52.0m (-7.4% on a like-for-like basis). Double digit growth continues in Asia, described by the group as a “high potential market.”

Marcolin continues to strengthen its licensing portfolio: recently announced renewals include GCDS, Zegna, Max&Co and Sketchers. Earlier this year the group announced an exclusive partnership with Christian Louboutin – marking the brand’s debut in the eyewear category – and with K-Way, best known for its waterproof jackets.

READ MORE: Marcolin highlights strong FY23 ahead of official statements release

READ MORE: Marcolin presents new sunglass style for Guess Eyewear in travel retail