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Press release Safilo GROUP Q1 2021 TRADING UPDATE 01 2021 Trading Update Safilo's Q1 2021 business grows compared to 2020 and 2019 : • Net sales : + 20.0 % vs Q1 2020 , + 6.0 % vs Q1 2019 ( at constant exchange rates ) Adjusted¹ EBITDA : Euro 25.8 million , margin 10.3 % ( 2.6 % in Q1 2020 , 8.1 % in Q1 2019 ) Strong recovery of own and licensed brands , with the new brands in the portfolio effectively compensating the licenses terminated at the end of 2020 Strong growth of the online business , at 13 % of the Group's net sales Significant improvement in profitability driven by sales rebound and now leaner overheads and cost structure Padua , May 11 , 2021 – The Board of Directors of Safilo Group S.p.A. has today reviewed and approved Q1 2021 economic and financial key performance indicators . Safilo's Q1 2021 net sales reached Euro 251.4 million , up 20.0 % at constant exchange rates compared to Q1 2020 , the first to be hit by the outbreak of the Covid - 19 pandemic . More meaningfully , Q1 2021 net sales also grew compared to the same quarter of 2019 , up 6.0 % at constant exchange rates , thanks to the strong performance of the Group's own brands and core licenses , and to the significant contribution of the new brands in the portfolio effectively compensating the licenses terminated at the end of last year . The positive sales performance of the period was again largely driven by the United States and by a better than expected contribution from the newly acquired ecommerce business , which , coupled with the growth of Smith's direct - to - consumer ( D2C ) channel , boosted Safilo's total online business to 13 % of its net sales from 5.9 % in Q1 2020 . As anticipated , China , Australia and Middle - East markets were the other strong positive contributors of the quarter , while Europe resulted overall soft as still penalized by the persisting retail restrictions in a number of markets and distribution channels . From an economic standpoint , the positive sales development , coupled with the ongoing cost containment actions and the leaner overheads cost structure deriving from the structural savings achieved by the Group in recent years , led Safilo to a significant improvement of its operating performance , also above the first quarter of 2019 . The adjusted¹ EBITDA equaled Euro 25.8 million in Q1 2021 , compared to Euro 5.8 million in Q1 2020 and Euro 20.0 million in Q1 2019. In the period , the adjusted¹ EBITDA margin reached 10.3 % , compared to 2.6 % in Q1 2020 and 8.1 % in Q1 2019 . This press release may use ' alternative performance indicators ' not foreseen by the IFRS - EU accounting standards ( EBITDA and Net debt ) , and whose meaning and contents are illustrated in the specific section of the press release and in accordance with the CESR / 05-178b recommendation published on 3rd November 2005 . 1