Safilo continues to grow in Q3

Safilo continued along its growth path in Q3 despite an adverse exchange rate effect. The Italian eyewear group recorded a revenue of €220.8 million in the period, up 2.1% at constant exchange rates. However, the dollar’s weakness against the euro dragged down revenue at current exchange rates by 2.1%. In Q3, adjusted EBITDA rose to €22.1 million, up 24.3%, and margin was 10%.

Europe was Safilo’s main growth driver in Q3, with revenue up 7.7% at constant exchange rates (and 6.7% at current rates) to €90.9 million, bolstered by the sunglasses segment. Results in Asia-Pacific were also positive, generating a revenue of €13.8 million (up 7.8% at constant exchange rates), while in North America revenue fell 6.6% at current rates.

Carrera, David Beckham, Marc Jacobs, Boss, Kate Spade and Carolina Herrera were the most successful brands, confirming the momentum of Safilo’s contemporary and lifestyle portfolio. Blenders and sports brand Smith instead recorded weak in-store performances in the quarter.

In January-September, Safilo’s net revenue was €758.4 million, up 2.2% at constant exchange rates and 0.1% at current rates. As of 30 September 2025, the group’s net debt fell to €30.4 million, corresponding to a positive net financial position of €10.7 million.

“In the quarter, our operations continued to face pressure from tariffs. However, the effectiveness of our mitigation actions led to a year-on-year gross margin improvement, and a significant increase in our adjusted EBITDA margin to 10% of sales,” said Angelo Trocchia, CEO of Safilo. 

“Thanks to this solid operational performance and our rigorous management of working capital we have recorded another strong cash-generating quarter, enabling us to achieve, for the first time in our history, a positive net financial position, pre-IFRS 16,” added Trocchia.

As part of the buyback programme initiated in June, as of 30 September 2025 the group held a total of 18.8 million Safilo Group ordinary shares, equivalent to approximately 4.5% of outstanding shares.