For the first nine months of 2009, Marcolin suffered a 7.5 percent drop in revenues to €130.9 million. This was a 9.5 percent drop on a currency-neutral basis. Ebitda (operating profit before amortization) fell by 45.0 percent to €8.2 million, and Ebit (operating profit before interest and tax) plunged by 51.0 percent to €4.8 million. The net profit declined by 8.3 percent to €4.4 million. The fact that it didn't drop more is attributed to better financial management.
For the third quarter of the year, revenues decreased by 8.5 percent to €30.9 million, or a drop of 9.8 percent in constant currencies. The Ebitda loss was €2.8 million, up from a loss of €1.3 million in 2008, and the Ebit loss was 3.6 million, against a negative €2.5 million last year. The Ebitda margin grew by 7.8 percentage points to 54.8 percent.
For the January-September period, the Ebitda margin fell by 4.2 percentage points to 6.3 percent, while the Ebit margin fell by 3.2 percentage points to 3.7 percent. The reduced profit margin was attributed to the drop in revenue, more minimums guaranteed on license contracts and investments for newly acquired brands. The gross margin was 55.9 percent, up from 54.0 percent in the first nine months of 2008.
Geographically, sales in Italy grew by 3.7 percent to €27.1 million. In the rest of Europe they fell by 15.8 percent to €47.1 million. There was a small drop of 1.4 percent to €31.3 million in North America and a decline of 8.1 percent in the rest of the world to €25.3 million. The company's Dsquared2 collection was cited as doing very well.