Safilo Reports a Sharp Increase in Net Income in 2025
Safilo closed out 2025 with an adjusted group net profit of €44.6 million, up 30.4% from the previous year. The Venice-based eyewear group notes that this result was also driven by a nearly 50% decrease in net financial expenses, which fell from €16.3 million to €8.3 million, thanks to reduced debt and more favorable exchange rates.
Sales remain resilient despite the impact of the dollar
According to the results approved by the Board of Directors, Safilo’s annual sales totaled €983.4 million, representing growth of 1.8% at constant exchange rates (-1% at current exchange rates) following a fourth quarter that saw a 0.4% increase (-4.6% at current exchange rates) compared to the same period in 2024, reflecting the gradual weakening of the dollar against the euro over the course of the year. In 2025, Safilo’s operating performance includes a gain of €9.7 million from the sale of the Lenti subsidiary, which, along with other non-recurring cost items, has been excluded from adjusted results.
Improved profitability and margins
For the full year, adjusted EBITDA amounted to €104.2 million, up 12%, while the adjusted EBITDA margin improved by 120 basis points, rising from 9.4% to 10.6%. In the fourth quarter, adjusted EBITDA reached €19.7 million, up 12.3% compared to the fourth quarter of 2024, with the adjusted EBITDA margin improving by 130 basis points, from 7.5% to 8.8%. During the fiscal year, adjusted operating income rose to €66.5 million, up 26.6% compared to 2024, driven in particular by lower depreciation and amortization. The adjusted operating margin increased to 6.8% of sales, representing an improvement of 150 basis points compared to the previous year.
Solid finances and a revitalized brand portfolio
“We ended 2025 with a gross margin of approximately 61% and adjusted EBITDA of 10.6%, both up 120 basis points from 2024,” said Angelo Trocchia, CEO of Safilo, in a statement. “These results bring our profitability levels back to their highest in the last decade, and, combined with careful and effective working capital management, helped generate free cash flow of €55 million and reduce net debt to €46 million, further strengthening our financial profile. We also continued to pursue the dynamic management of our brand portfolio with determination, renewing major partnerships such as Carolina Herrera, Under Armour, Dsquared2, and Pierre Cardin, and signing a ten-year agreement for Victoria Beckham eyewear. […] On the investment front, December was marked by the acquisition of a 25% stake in Inspecs, a British group primarily active in the optical segment, one of our most strategic growth areas.”