Positive results put Safilo back on track

Safilo recorded positive financial results for 2010 with growth driven by the Asian and American markets, while its European sales achieved more 'moderate improvement'.

The Italian manufacturer posted a net profit for the year of €700,000, in comparison with a loss of €351.4m in 2009. Its chief executive Roberto Vedovotto described 2010 as 'one of the most meaningful years in Safilo's history' characterised by significant milestones.

In March 2010 the company completed a recapitalisation plan, allowing it to rebalance its capital structure (News 23.10.09). This event marked the start of improvements in the company's economic and financial results, the strengthening of the Safilo management team and renewal of its licence partnerships.