Marcolin suffered a 7.2 percent drop in revenues to €100 million in the first half of 2009, down by 9.5 percent at constant exchange rates. Earnings before interest, taxes, depreciation and amortization (Ebitda) were €11 million, a 32.1 percent drop from the same period last year. The Ebitda margin thus fell by 4 percentage points to 11 percent.

The operating profit before interest and tax (Ebit) fell by an even higher rate of 31.7 percent to €8.4 million, so the Ebit margin dropped by 3.0 percentage points to 8.4 percent of sales. Marcolin's net profit was down by only 5.3 percent to €7.1 million, however.

The company noted that sales were positive given the economic climate, and noted that Marcolin hadn't yet received additional revenues from its new Tod's and Hogan lines, which will come out in the fourth quarter.

Geographically, sales at home in Italy increased by 7.0 percent to €22.0 million. The rest of Europe, however, saw a drop of 16.6 percent to €37.7 million. The North American turnover grew by 0.9 percent to €22.4 million, and in the rest of the world sales decreased by 9.7 percent to €17.9 million.