Safilo Group posts first‑half profit rise on U.S. tariff refunds and brand acquisitions

Safilo Group reported a stronger first half of 2026 despite a 1.9% drop in sales to €512 million. The eyewear maker credited €22.2 million in U.S. tariff refunds for boosting its adjusted net margin to 9.6%, up 3.3 percentage points. Excluding the refunds, the margin was 6.6%.

Net profit rose 46.7% to €49.4 million. CEO Angelo Trocchia said, “The second quarter developed within a softer demand environment … we continued to focus on the levers under our control, protecting the quality of our business through disciplined commercial execution, a favorable price/mix and continued cost control.” He added confidence in the second half, noting the recent acquisition of Spy+ and Serengeti, described as “two iconic brands, highly complementary to our existing portfolio.”

Analyst Banca Akrosh raised its target price to €2.20 and Equita to €2.10, reflecting the improved profitability and outlook for 2026‑2030 margins.