Marcolin reports that its consolidated revenue increased by 15.6 percent to €115.6 million for the first half of 2010, indicating growth of 14.6 percent on a currency-neutral basis. Operating earnings before amortization (Ebitda) leapt by 92 percent to €21.1 million, while Ebit (after amortization) and net profit both more than doubled, up by 109 percent to €17.5 million and by 103 percent to €14.3 million, respectively.
The Ebitda margin thus rose by 6.3 percentage points to 62.5 percent. The net financial position was still a negative €11.3 million, an improvement over the negative €29.3 million in the first half of 2009.
In the home market of Italy, Marcolin's turnover rose by 16.8 percent to €25.6 million. In the rest of Europe it was up by 11.4 percent to €42.0 million; in the U.S. by 9.1 percent to €24.5 million; and in the rest of the world by an impressive 31.0 percent to €23.5 million.
Marcolin said the good sales results stemmed from streamlining costs in production and labor, a new demand planning system that allows for better inventory management, and good sales of new brands with higher margins.
For just the second quarter, sales were up by 22.0 percent to €58.1 million, Ebitda jumped by 185 percent to €11.7 million and Ebit leapt by 238 percent to €9.8 million.
Marcolin, which has already reported its new licensing deal for Diesel eyewear (see previous issue), has announced that it is renewing its licensing agreement with the Timberland Company through 2013. The deal is for sunglasses and prescription frames and includes a clause that gives the parties the option of renewal for an additional two years.