Marcolin posts positive performance with net sales up 9% in H1 2023
Marcolin Group has posted sales in H1 of 2023 amounting to €308.7 million (US$340.15 million), with an increase of 8.8% at current exchange rates (+8.7% at constant exchange rates) compared to the same period of the previous year.
Compared to H1 of 2022, the Asian market grew +125.4% at current exchange rates and +125.3% at constant exchange rates and the EMEA improved +8.7% at current exchange rates and +9.3% at constant exchange rates, with the Americas staying flat.
Adjusted EBITDA amounted to €51.2 million (US$56.42 million), marking an increase of 26.4% compared to €40.5 million in the same period of the previous year.
The trend in the adjusted EBITDA margin was equally positive, reaching 16.6% of net sales (compared to 14.3% in the first half of 2022).
Importantly, H1 2023 showed a positive net result of €15.5 million (US$17.08 million), vs
€8.8 million (US$9.7 million) in H1 2022.
Net sales increased by 8.8% to €308.7 million (US$340.15 million) in H1 compared to the first half of 2022.
Adjusted EBITDA increased by 26.4% at €51.2 million (US$56.42 million) compared to €40.5 million (US$44.63 million) in the first half of 2022. The % margin on net sales was 16.6% (14.3% in the first half of 2022)
Marcolin states that 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 efficiency in production and procurement all helped create these positive results.
Q2 2023 results
In the second quarter of 2023, Marcolin generated revenues of €156.4 million (US$172.34 million), similar to Q2 of 2022 (+1.6% at current exchange rates). Adjusted EBITDA was €27.6 million (US$30.41 million) (equal to 17.6% of net sales), compared to €22.3 million (US$24.57 million) in the second quarter of 2022 (equal to 14.5% of net sales).