Safilo Group S.p.a. · MIL:SFL
Safilo — Q3 2025 Earnings Presentation
20 slides from Safilo's earnings presentation, Nov 4, 2025
Slide 1: Q3/9M 2025 Trading Update
Q3/9M 2025 TRADING UPDATE NOVEMBER 4, 2025
Slide 2: Disclaimer
DISCLAIMER This presentation may contain forward looking statements based on current expectations and projects of the Group in relation to future events. Due to their specific nature, these statements are subject to inherent risks and uncertainties, as they depend on certain circumstances and facts,
Slide 3: Another quarter of steady sales growth with strong margins and cash flow improvement
ANOTHER QUARTER OF STEADY SALES GROWTH WITH STRONG MARGINS AND CASH FLOW IMPROVEMENT “In the third quarter, we confirmed the solidity of our performance, with steady top- line growth at constant exchange rates and further improvement in margins and cash generation. In an environment of continued mac
Slide 4: Q3 2025 Highlights
Q3 2025 HIGHLIGHTS • Steady pace of sales growth: +2.1% at constant exchange rates, supported by positive performance of contemporary and lifestyle brands • Mixed regional dynamics: North America in line vs Europe up high single-digits • Continued margins improvement despite tariff pressure: adj. EB
Slide 5: Total Sales Performance
TOTAL SALES PERFORMANCE Q3 2025 9M 2025 220.8 €M, -2.1% 758.4 €M, +0.1% +2.1% @cFX +2.2% @cFX • Intensified forex headwinds mainly due to US dollar depreciation • Sales growth at constant exchange rates consistent with H1 performance • Brand momentum driven by Carrera, David Beckham, Marc Jacobs, BO
Slide 6: Europe
EUROPE Q3 2025 9M 2025 +7.7% @cFX +3.2% @cFX • Prescription frames strongly outperformed, also supported by a favourable phasing of deliveries. Sunglasses rebounded, notably in Italy • Robust demand from independent opticians and chains, with theYou&Safilo BtB platform gaining further traction • Fra
Slide 7: North America
NORTH AMERICA Q3 2025 9M 2025 +0.1% @cFX +1.9% @cFX • North America showed a mixed performance, with flat sales at constant exchange rates amid channel-specific dynamics • Smith saw strong direct-to-consumer growth, while sales to physical stores were impacted by the ongoing recovery of sports produ
Slide 8: Asia & Pacific
ASIA & PACIFIC Q3 2025 9M 2025 +7.8% @cFX +12.4% @cFX • Sales in Asia & Pacific sustained positive momentum • Growth was led by distributor-driven markets, with Tommy Hilfiger, BOSS and HUGO as key brand contributors • Australia delivered a strong performance, supported by Carrera’s brand-building i
Slide 9: Rest of the World
REST OF THE WORLD Q3 2025 9M 2025 -13.0% @cFX -6.8% @cFX • Performance in the RoW continued to be affected by challenges in India and a difficult market environment for Middle Eastern distributors • Mexico demonstrated resilience, with positive sales to independent opticians • Top-performing brands
Slide 10: Gross Margin Performance
GROSS MARGIN PERFORMANCE Q3 2025 9M 2025 59.7%, +60 bps 60.6% ,+90 bps • Mitigation actions helped offset most of the tariff pressures, protecting profitability • Favorable price/mix dynamics, though less than in Q2 • Positive foreign exchange impact supporting year-on-year improvement Q3/9M 2025 TR
Slide 11: Adjusted EBITDA Margin
ADJUSTED1 EBITDA MARGIN Q3 2025 9M 2025 10.0%, +210 bps 11.1% ,+110 bps • Further operating margin expansion marking a record Q3 performance • Gradual normalization of marketing investments, after H1 peak, and lower IT and logistics costs, supporting improvement Q3/9M 2025 TRADING UPDATE 11
Slide 12: Financial Performance
FINANCIAL PERFORMANCE Free Cash Flow: 20.7 €M in Q3/64.2 €M in 9M Net Debtpositive (pre-IFRS 16) : 10.7 €M • Q3 strong cash generation driven by solid operations and disciplined WC. 9M FCF includes €11.9 M from the disposal of Lenti • Net financial position turned positive pre-IFRS 16, a milestone a
Slide 13: Q&A
Q&A
Slide 14: Appendices
Appendices
Slide 15: Notes to the Presentation
NOTES TO THE PRESENTATION 1 In the first 9 months of 2025, the ad justed EBITDA excluded a net no n- recu rring income of a round Euro 6.9 million due to a ga in of Eu ro 9.7 m illion from the dis posal of the s ubsid ia ry Lenti S .r.l., a nd to res tructu rin g costs for Euro 2.8 million. In Q3 20
Slide 16: Sales by Geographical Area
SALES BY GEOGRAPHICAL AREA % Change % Change 9M 2025 % 9M 2024 % current forex constant forex North America 317.8 41.9 321.4 42.4 -1.1% +1.9% Europe 334.0 44.0 324.2 42.8 +3.0% +3.2% Asia Pacific 44.0 5.8 40.0 5.3 +9.9% +12.4% Rest of the world 62.7 8.3 71.8 9.5 -12.7% -6.8% Total 758.4 100.0 757.4
Slide 17: Sales by Geographical Area
SALES BY GEOGRAPHICAL AREA % Change % Change H1 2025 % H1 2024 % current forex constant forex North America 220.9 41.1 217.6 40.9 +1.5% +2.8% Europe 243.1 45.2 239.1 44.9 +1.7% +1.7% Asia Pacific 30.2 5.6 26.4 5.0 +14.1% +14.7% Rest of the world 43.5 8.1 48.8 9.2 -10.8% -3.8% Total 537.6 100.0 532.0
Slide 18: 9M and Q3 2025 Trading Update
9M AND Q3 2025 TRADING UPDATE 9M 2025 % 9M 2024 % % Change Net sales 758.4 757.4 +0.1% Gross Profit 459.9 60.6% 452.5 59.7% +1.6% EBITDA 91.3 12.0% 66.9 8.8% +36.5% Adjusted1 EBITDA 84.4 11.1% 75.4 10.0% +11.9% IFRS 16 impact on EBITDA 9.7 9.1 Q3 2025 % Q3 2024 % % Change Net sales 220.8 225.4 -2.1%
Slide 19: Exchange Rates
EXCHANGE RATES (Appreciation)/ (Appreciation)/ As of Average for Depreciation Depreciation Currency Code September 30, 2025 December 31, 2024 % 9M 2025 9M 2024 % US Dollar USD 1.1741 1.0389 13.0% 1.1188 1.0871 2.9% Hong-Kong Dollar HKD 9.1359 8.0686 13.2% 8.7306 8.4925 2.8% Swiss Franc CHF 0.9364 0.
Slide 20: Strong Brand Portfolio
STRONG BRAND PORTFOLIO • The right offer for all distribution channels, for all customer types • Centered on contemporary segment where the highest demand of eyewear is • Broad based offer across genders, ages, categories & price segments • Appealing to the most fashion- driven consumers and functio