Slide 1: Q1 2022 Trading Update
Q1 2022 Trading Update May 3, 2022
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: CEO statement on first quarter
“We closed a positive first quarter, with a solid start to 2022 for our net sales and more meaningfully for the improvement of our profitability. The period confirmed once more the strength of our own and licensed brands which continued to show their ability to grow at a healthy pace in their core p
Slide 4: Trading Update: Solid Sales and Profits Growth Continued
Q1 2022 TRADING UPDATE SOLID SALES AND PROFITS GROWTH CONTINUED NET SALES GROSS PROFIT ADJ. EBITDA2 282.6 €m 155.5 €m 32.0 €m Q1 2022 vs 2021 +8.4% @ cFX +22.8% +23.8% +12.4% @ current FX MARGIN MARGIN 55.0% 11.3% 2 ON AN ADJUSTED BASIS, EXCLUDING NON-RECURRING COSTS 3
Slide 5: Key Business Drivers
Q1 2022 KEY BUSINESS DRIVERS ORGANIC1 SALES GROWTH AT +14.3% LARGELY DRIVEN BY VOLUMES BRAND PORTFOLIO OVERHAUL STRATEGY CONTINUING ✓ Double-digit growth of Smith and Carrera and promising start to the year for Polaroid. All key licenses up high-single to double-digits. ✓ Rebound in sunglasses drivi
Slide 6: Sales Performance
Safilo 01.2022 sates PERFORMANCE SEE THE WORLD AT ITS BEST Ovm a PVG
Slide 7: Sales Performance by Region
Q1 2022 SALES PERFORMANCE BY REGION North America Europa Rest of World Asia & Pacific 129.0 €m 117.2 €m 23.9 €m 12.4 €m 45.7% 41.5% 8.5% 4.4% Reported Organic1 Reported Organic1 Reported Organic1 Reported Organic1 Q1 2022 vs 2021 @ cFX +0.9% +5.5% +16.2% +24.9% +27.3% +29.8% -9.3% +2.3% Brazil and M
Slide 8: Net Sales Performance by Product
Q1 2022 NET SALES PERFORMANCE BY PRODUCT Sunglasses Prescription frames Other 135.4 €m 114.2 €m 33.0 €m 47.9% 40.4% 11.7% Reported Organic1 Reported Organic1 Reported Organic1 Q1 2022 vs 2021 @ cFX +5.1% +19.8% +7.9% +5.2% +27.5% +27.6% Promising start to the year for Another resilient quarter of gr
Slide 9: Economic and Financial Highlights
Q1 2022 ECONOMIC AND FINANCIAL HIGHLIGHTS
Slide 10: Drivers of Q1 2022 Economic Performance: Gross Profit
DRIVERS OF Q1 2022 ECONOMIC PERFORMANCE SIGNIFICANT GROSS PROFIT AND MARGIN IMPROVEMENT Positive price/mix effect and further progress on the structural COGS savings project envisaged in the Group Business Plan, effectively countered inflationary pressures Q1 2022 vs Q1 2021 vs Q1 2021 ADJ.2 155.5 €
Slide 11: Drivers of Q1 2022 Economic Performance: Adj. EBITDA
DRIVERS OF Q1 2022 ECONOMIC PERFORMANCE STRONG PROGRESS AT THE ADJ.2 EBITDA LEVEL Gross profit and operating leverage supporting ca +15% SG&A costs mainly behind higher marketing/advertising investments IFRIC SaaS costs, not yet recognized in Q1 ’21, impacting EDP expenses for +1.9 €m with an equiva
Slide 12: Group Financial Performance: Net Debt
GROUP FINANCIAL PERFORMANCE GROUP NET DEBT AT 31 MARCH 2022 SLIGHTLY UP Improved economic performance and business seasonality in terms of higher working capital absorption 109.1 €m (68.9 €m pre-IFRS 16) vs 94.0 €m (52.8 €m pre-IFRS 16) at 31 Dec. 2021 9
Slide 13: Q&A
Q&A Q1 2022 Trading Update May 3, 2022
Slide 14: Appendices
Appendices Q1 2022 Trading Update May 3, 2022
Slide 15: Notes to the Presentation
NOTES TO THE PRESENTATION 1 Organic sales include only the proprietary brands and not terminated licenses, present in both of the compared periods, excluding the business attributable to the production supply contract with Kering Eyewear. 2 In Q1 2022, the adjusted EBITDA excludes non-recurring cost
Slide 16: Net Sales by Geographical Area
Q1 2022 NET SALES BY GEOGRAPHICAL AREA Change at Change at current forex constant forex 1 (Euro million) Q1 2022 % Q1 2021 % Reported Reported Organic North America 129.0 45.7 119.1 47.4 +8.3% +0.9% +5.5% Europe 117.2 41.5 101.5 40.4 +15.5% +16.2% +24.9% Asia Pacific 12.4 4.4 13.0 5.2 -4.4% -9.3% +2
Slide 17: Economic Trading Update
Q1 2022 ECONOMIC TRADING UPDATE % on % on % Change (Euro million) Q1 2022 net sales Q1 2021 net sales 2022 vs 2021 Net sales 282.6 251.4 +12.4% Gross Profit 155.5 55.0% 126.6 50.4% +22.8% EBITDA 28.7 10.2% 13.4 5.3% +114.7% Adjusted EBITDA 2 32.0 11.3% 25.8 10.3% +23.8% IFRS 16 impact on EBITDA 2.6
Slide 18: Exchange Rates
EXCHANGE RATES (Appreciation)/ (Appreciation)/ As of Average for Depreciation Depreciation March 31, December 31, March 31, March 31, Currency Code % % 2022 2021 2022 2021 US Dollar USD 1.1101 1.1326 -2.0% 1.1217 1.2049 -6.9% Hong-Kong Dollar HKD 8.6918 8.8333 -1.6% 8.7551 9.3465 -6.3% Swiss Franc C
Slide 19: Brands Portfolio
By BRAN DS PORTFOLIO Safilo ‘SEE THE WORLD AT ITS BEST BOSS SMITH MOSCHINO Polaroid B EYEWEAR by DAVID BECKHAM @D MISSONI PRIVE REVAUX Juicy Couture JIMMY CHOO ISABEL MARANT TOMMY SBHILFIGER DSQUARED2 CHIARA FERRAGNI kate spade New Yore TOMMY JEANS: HUGO pierre cardin an CAROLINA HERRERA MARC JACOBS