Presentation Q3/9M 2021 Trading Update

Q3 and 9 months 2021 Trading Update

November 9, 2021

Q3 and 9 months 2021 Trading Update

November 9, 2021

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, most of which being beyond the control of the Group. Therefore actual results could differ, even to a significant extent, with respect to those reported in the statements.

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"In the third quarter of 2021, positive consumer trends in our key markets and product categories allowed us to close another strong quarter of recovery and growth despite the dampening effect of a still complex environment in a number of countries and our challenging comparison bases in the midst of our brand portfolio overhaul…"

Angelo Trocchia, CEO

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Q3 2021 KEY BUSINESS DYNAMICS

…COMPARED TO 2019

• Double-digitorganic2 sales growth driven by our main markets, with USA again very solid and Europe picking up
• Prescription frames and sport products the leading categories, while sunglasses back to growth
• Online business at ca 13% of total business, and progressing with our direct-to-consumer strategy
• Effective portfolio rebalance, with new business surpassing the decline of terminated licenses
• Progress in structural savings supporting significant recovery of operating performance

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Q3 2021 POSITIVE BUSINESS TRENDS

…CONFIRM SALES AND PROFITS ABOVE 2019 AND 2020

Q3 2021

NET SALES €226.6M	ADJUSTED1 EBITDA €19.1M
						ADJ.1 EBITDA MARGIN 8.4%
vs Q3 2020				vs Q3 2020			vs Q3 2019
		vs Q3 2019
+2.6%		+11.1%			+33.3%		+45.9%
@constant FX			@constant FX		+190 bps		+220 bps

9M 2021

NET SALES €737.4M	ADJUSTED1 EBITDA €68.8M
					ADJ.1 EBITDA MARGIN 9.3%
vs 9M 2020				vs 9M 2020			vs 9M 2019
		vs 9M 2019
+37.3%		+8.7%		+593.1%		+26.6%
@constant FX			@constant FX		+11.8 pps		+160 bps

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