EssilorLuxottica confirms positive outlook

EssilorLuxottica’s revenue for the third quarter of 6,294 million euros, increased 5.2 percent at constant exchange but dropped 1.6 percent at current exchange rates.

In the first nine months, revenue amounted to 19,145 million euros, up 7.2 percent or 4.1 percent at current exchange rates, with professional solutions up 7.2 percent or 3.9 percent at current exchange, with all regions positive.

The company confirms its target of mid-single-digit annual revenue growth from 2022 to 2026 at constant exchange rates and expects to achieve an adjusted operating profit as a percentage of revenue in the range of 19 to 20 percent by the end of that period.

“This past quarter, every business and geography in our group contributed to the sound growth, with recent launches like the Varilux XR series and Swarovski gaining traction. We are doubling down on our strengths, including our operations footprint, with a new plant in Rayong, Thailand, that truly showcases the EssilorLuxottica vision with frames and lenses under the same roof,” said Francesco Milleri and Paul du Saillant, chairman and CEO and deputy CEO at EssilorLuxottica.

In the third quarter, the wholesale segment recorded revenue of 2,978 million euros, up 5.7 percent but down 1.7 percent at current exchange rates. The retail segment registered revenue of 3,316 million euros, up 4.7 percent but down 1.5 percent at current exchange rates.

In the first nine months, direct to consumer grew 7.2 percent or 4.3 percent at current exchange rates, delivering double-digit growth across all the regions except North America dragged by a weak Sunglass Hut.