FX.co ★ EssilorLuxottica Q3 Revenues Up 2.3%

EssilorLuxottica, the renowned French ophthalmic company, announced on Thursday a 2.3% increase in its third-quarter revenue, reaching 6.437 billion euros, compared to 6.294 billion euros during the same period last year. When adjusted for constant currency, the revenue growth for the quarter stood at 4.0%.

The Professional Solutions segment, encompassing wholesale activities, saw its revenues rise by 1.3%, totaling 3.017 billion euros, up from 2.978 billion euros a year earlier. Meanwhile, the Direct to Consumer division, representing retail operations, reported a 3.2% growth to 3.420 billion euros, compared to last year's 3.316 billion euros.

Looking ahead, EssilorLuxottica has affirmed its strategic goal of achieving mid-single-digit annual revenue growth for the period from 2022 to 2026, maintaining constant exchange rates. The company is targeting a revenue range of 27 to 28 billion euros and anticipates an adjusted operating profit margin in the range of 19% to 20% by the end of this timeframe.

Francesco Milleri, Chairman and CEO, along with Paul du Saillant, Deputy CEO, remarked, "Our third-quarter performance reflects strong, sustained momentum, with all regions and sectors contributing to our steady growth. Our focus on innovation and excellence continues to drive our success."

They further stated, "We have strengthened our position in the med-tech sector while gearing up for accelerated business growth. This includes our initiatives in myopia management, the expansion of smart glasses, the launch of Nuance Audio, and the addition of Heidelberg Engineering and Supreme to our portfolio. Our enduring partnership with Meta continues to redefine smart glasses as a groundbreaking segment within digital eyewear."