PADOVA, Italy--Safilo Group reported its consolidated year-end results for the period ending Dec. 31, 2004. Consolidated sales amounted to 940 million Euros, an increase of 8.5 percent compared to 2003 at fixed exchange rates and 4.4 percent at current exchange rates. The group reported growth in all the main international markets with particularly positive results achieved in the Far East (an increase of more than 30 percent despite the negative exchange rate), and in North America (a 10 percent increase at fixed exchange rates).

European markets also performed well and registered an increase of 4.5 percent.

The company stated that the success of measures aimed at increasing profitability have lead to a considerable increase in the group’s operating results, which in turn have offset negative effects resulting from the persistent weakness of the U.S. dollar. EBITDA for 2004 reached 150.3 million Euros, an increase of 14 percent. Results achieved in the final quarter of the year were significant, with an EBITDA value 23 percent higher than the same period of 2003.

The group reported an improved debt position at the end of 2004 equal to 758 million Euros, or 39 million Euros lower than at the end of 2003.

Safilo chairman Vittorio Tabacchi said improved economic indicators confirmed the effectiveness of the group’s industrial and financial strategies. “We expect to gain further market share in 2005.” Early client orders confirm the positive trend.