In the first nine months of 2011, Marcolin booked an 8.8 percent rise in sales to €169.0 million, driven by growth in fashion and luxury brands and the launch of the new Swarovski line. On a currency-neutral basis, sales were up by 10.7 percent.
In Europe, the company's turnover rose by 3.7 percent to €89.6 million, driven by France, Germany, Turkey and Russia. Meanwhile, other Mediterranean markets slowed down due to persistent economic difficulties.
In the U.S., sales were up by 2.4 percent to €36.2 million, hit by the weakening of the dollar against the euro. Revenues increased by 9.5 percent at constant currency rates. In Asia, turnover surged by 38.0 percent to €16.9 million, led by South Korea and China. In the rest of the world, sales rose by 23.2 percent to €26.3 million.
The gross margin widened to 63.8 percent of sales in the nine-month period from 61.4 percent a year earlier. The Ebitda margin rose to 16.1 percent from 14.5 percent and the Ebit margin jumped to 13.8 percent from 11.2 percent. Net profits increased to €17.3 million from €13.9 million a year ago. The group's net debt stood at €4.5 million at the end of September.
Despite a possible slowdown in its business in the third quarter, Marcolin reiterated that it expects to finish the year with higher sales and profits compared with 2010, when it posted revenues of €207.7 million and a net profit of €18.6 million. Financial analysts expect Marcolin to reach full-year sales of €228 million and a net profit of €19 million.