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29 Mar 2023


• In 2022, net sales increased by 20.1% at current exchange rates compared to 2021 (+ 13.2% at
constant exchange rates), standing at €547.4 million;
• Adjusted EBITDA amounted to €61.0 million, up 21.7% compared to €50.1 million in the
previous year, benefiting from both the increase in revenue and the soundness of the actions
taken to maintain a highly positive profit margin level.

Longarone/Milan, 28 March 2023 – The Board of Directors of Marcolin, a worldwide leading company in
the eyewear industry, on 28 March presented the draft of the Group's separate and consolidated
financial statements for the year ended 31 December 2022, which will be subject to approval by the
Shareholders' Meeting in April.

Results up to 31 December 2022
In 2022, Marcolin's net sales amounted to €547.4 million, up 20.1% compared to the previous year at
current exchange rates (+ 13.2% at constant exchange rates), confirming the strength of the business
strategy in a year marked by international geopolitical challenges and instability.
Compared to 2021, the Company has improved its performance in all geographical areas: significant
growth in a high potential market such as Asia (+ 47% at current exchange rates and + 33% at constant
exchange rates), while EMEA (+ 18% at current exchange rates and + 17% at constant exchange rates)
and Americas (+ 17% at current exchange rates and + 4% at constant exchange rates) are confirmed as
the main geographical areas, together accounting for approximately 90% of revenue.
Adjusted EBITDA reached €61.0 million, showing an increase of 21.7% compared to €50.1 million in the
previous year. The trend in the adjusted EBITDA margin was positive as well, reaching 11.1% of net
Various factors contributed to the achievement of these important results, including the consolidation of
the numerous brands in the portfolio, the implementation of a digital transformation process based on the
central role played by the relationship with customers in all its phases, and the continuous push towards
production and procurement efficiency.
The net financial position amounted to €137.4 million, an improvement of €10.7 million compared to the
previous year, thanks to the liquidity generated by both operating results and a regulated control of
working capital in all its components (trade receivables, trade payables and inventory levels).

"Last year confirmed how Marcolin is a high-performance and sound company capable of tackling a
complex historical period with vision and far-sightedness while consolidating its leadership position
among the reference players at global level in a sector that, today more than ever, is experiencing a
moment of great dynamism and change. 2022 results provide a drive for the Company's divisions to
elevate our expectations even higher: the year ahead of us is just as challenging, but full of important
events, in which we will have to prove once again that we are a modern, agile company, capable of
reading economic trends and supporting a sector in which Italy acts as a leader", comments Fabrizio
Curci, CEO & General Manager of Marcolin.

In 2022, Marcolin also gave further impetus to its commitment to sustainability and ESG issues through
numerous corporate governance development actions including, as example, obtaining the ISO 13485
certification, which regulates quality management systems in the medical device sector internationally.

About Marcolin:
Marcolin is a worldwide leading company in the eyewear
industry founded in 1961 in the heart of the Veneto district. It
stands out for the unique ability to combine craftsmanship
with advanced technologies through the constant pursuit of
excellence and continuous innovation. The brand portfolio
includes: TOM FORD, Guess, adidas Sport, adidas Originals,
Bally, Moncler, Max Mara, Sportmax, Zegna, GCDS, Barton
Perreira, Tod's, Pucci, BMW, MAX&Co., Kenneth Cole,
Timberland, GANT, Harley-Davidson, Marciano, Skechers and
Candie’s. Among the house brands: WEB Eyewear.
Through its own direct network and global partners, Marcolin
distributes its products in more than 125 countries.