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Financial Highlights

The following tables show figures from the consolidated financial statements. You can select your preferred periods from the drop-down menu. All data can be downloaded in Excel format.
The Safilo Group fiscal year ends in December.

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Income Statement
(Millions of euros)
2016
2015
2014
2013
2012
Net sales1,252.9 1,279.0 1,178.7 1,121.5 1,175.3
Gross profit715.6 757.0 718.6 683.7 679.7
EBITDA80.9 82.4 110.7 111.7 115.1
Operating profit/(loss)(116.3) 0.8 75.3 74.7 73.9
Net profit/(loss) attrib. to the Group(142.1) (52.7) 39.1 15.5 25.9
Key data per share
Shares outstanding ° 62,659,965 62,629,965 62,534,965 62,199,965 61,739,965
Basic EPS(2.269) (0.843) 0.625 0.251 0.428
*Number of shares after the capital increase of March 2010 and the following reverse share split in the measure of 1:20 affective from May 5, 2010.
Balance Sheet
(Millions of euros)
2016
2015
2014
2013
2012
Net working capital 261.7 277.7 303.1 246.9 277.4
Tangible & intangible fixed assets 710.0 843.7 841.2 783.0 808.3
Financial fixed assets- - 7.6 8.410.9
Non-current assets held for sale 1.5 9.9 - --
Other assets/(liabilities) (52.1) (42.8) (14.4) (9.7) (18.5)
Net capital employed 921.2 1,088.5 1,137.5 1,028.6 1,078.1
Net financial position 48.4 89.9 163.3 182.5215.3
Minority interest- 1.1 2.7 3.0 5.1
Shareholders' equity872.8 997.5 971.5 843.1 857.7

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Cash Flow
(Millions of euros)
2016
2015
2014
2013
2012
Cash from operating activities prior to changes in working capital47.0 61.1 68.2 51.1 58.7
Changes in working capital42.0 53.7 (41.3) 17.5 21.7
Cash from operating activities 89.1 114.8 26.9 68.6 80.4
Cash from financing activities (44.3) (40.0) (39.3) (40.2) (99.4)
Free cash flow 44.7 74.8 (12.4) 28.4 (19.0)

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Number of Employees
2016
2015
2014
2013
2012
Headquarters 1,065 1,040 1,021 991 948
Production 4,117 4,141 4,158 4,753 4,571
Commercial 1,141 1,319 1,423 1,402 1,393
Retail 805 825 912 907 855
Total 7,128 7,325 7,514 8,053 7,767

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Income statement from ordinary activities
(Millions of euros)
2016
2015
2014
2013
2012
EBITDA* 88.8102.4 118.4 121.8
Operating profit/(loss)** 43.5 61.4 83.0 84.8
Net profit/(loss) attrib. to the Group*** 15.46.944.539.0
Basic EPS, from ordinary activities0.250.110.710.63
*In 2016, before non-recurring restructuring costs for a total of Euro 7.9 million due for Euro 6.7 million to overhead cost saving initiatives, such as the integration of Vale of Leven (Scotland) Polaroid lens production into Safilo’s China based corporate supply network and for Euro 1.2 million to commercial restructuring costs in the EMEA region.
In 2015, before non-recurring items related commercial restructuring costs in the EMEA region for Euro 1.2 million, other non recurring costs for Euro 1.8 million mainly related to the consolidation of the Group’s North American distribution network into its Denver facility, and Euro 17.0 million for a provision for other risks and charges in relation to the litigation with the French Competition Authority.
In 2014, before non-recurring items related to Executive Officers succession plans for 3.3 million Euro, to Smith Sport Optics restructuring for 2.5 million Euro, and to other restructuring costs for 1.9 million Euro.
In 2013, before non-recurring items related to the CEO succesion plan for 6.2 million euro and to other restructuring costs for 3.9 million Euro.
In 2009, before the provision of €7.4m for non recurring costs related to the industrial reorganisation plan
**In 2016, before non-recurring items refer to an impairment loss on the goodwill allocated to the Far East cash generating unit for Euro 150.0 million and non-recurring restructuring costs for a total of Euro 9.8 million due for Euro 8.6 million to overhead cost saving initiatives, such as the integration of Vale of Leven (Scotland) Polaroid lens production into Safilo’s China based corporate supply network and for Euro 1.2 million to commercial restructuring costs in the EMEA region.
In 2015, before non-recurring items related commercial restructuring costs in the EMEA region for Euro 1.2 million, other non recurring costs for Euro 1.8 million mainly related to the consolidation of the Group’s North American distribution network into its Denver facility, Euro 17.0 million for a provision for other risks and charges in relation to the litigation with the French Competition Authority and Euro 40.5 million for an impairment charge on goodwill.
In 2014, before non-recurring items related to Executive Officers succession plans for 3.3 million Euro, to Smith Sport Optics restructuring for 2.5 million Euro, and to other restructuring costs for 1.9 million Euro.
In 2013, before non-recurring items related to the CEO succesion plan for 6.2 million euro and to other restructuring costs for 3.9 million Euro.
In 2009, before the provision of 7,4 million euro and the goodwill write down of 257.7 million euro and the loss on the sale of retail activities for €21.7m
***In 2016, before non-recurring items refer to an impairment loss on the goodwill allocated to the Far East cash generating unit for Euro 150.0 million and non-recurring restructuring costs for a total of Euro 9.8 million due for Euro 8.6 million to overhead cost saving initiatives, such as the integration of Vale of Leven (Scotland) Polaroid lens production into Safilo’s China based corporate supply network and for Euro 1.2 million to commercial restructuring costs in the EMEA region, and related tax effect for Euro 2.3 million.
In 2015, before non-recurring items related commercial restructuring costs in the EMEA region for Euro 1.2 million, other non recurring costs for Euro 1.8 million mainly related to the consolidation of the Group’s North American distribution network into its Denver facility, Euro 17.0 million for a provision for other risks and charges in relation to the litigation with the French Competition Authority, Euro 40.5 million for an impairment charge on goodwill, and related tax effect for Euro 0.9 million.
In 2014, before all the non-recurring items described above, and related tax effect for 2.3 million Euro.
In 2013, before all the non-recurring items described above, plus non-recurring items in the line taxes for 13.4 million Euro mainly related the Company's best estimate of tax assessment in Italy for years 2007 to 2011. This estimate is reasonable and consistent with the definition which took place on February 27, 2014 covering all the years.
In 2009, before all the non-recurring items described above, plus the write down of deferred tax assets of €30.9m.
In 2008, before the write down of deferred tax assets of €38m.

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Last updated: November 21, 2017

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