EssilorLuxottica 1st Half Earnings Rose, Backs Mid-Term Growth Targets
July 25 2023 - 11:57AM
Dow Jones News
By Maitane Sardon
EssilorLuxottica on Tuesday said sales and earnings rose in the
first half and backed its growth targets for 2026.
The Franco-Italian eyewear group made an adjusted operating
profit of 2.35 billion euros ($2.60 billion) in the half year,
rising 9% at constant currency from the same period last year.
The group's operating margin was 18.5%, and it made a net profit
of EUR1.36 billion.
Revenue came in at EUR12.85 billion, an increase of 8% at
constant exchange rates.
Second-quarter revenue growth was spread across all the business
areas with the exception of sun retail in the U.S., which posted a
negative performance on the back of softening market demand,
EssilorLuxottica said.
Looking ahead, the company backed its target of mid-single-digit
annual revenue growth from 2022 to 2026 at constant exchange rates
and said it expects to achieve an adjusted operating profit as a
percentage of revenue in the range of 19% to 20% by the end of
2026.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
July 25, 2023 12:42 ET (16:42 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Essilor Luxottica (PK) (USOTC:ESLOY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Essilor Luxottica (PK) (USOTC:ESLOY)
Historical Stock Chart
From Apr 2023 to Apr 2024
