Skip to main content

EssilorLuxottica: Q2/H1 2024 Results – Sound revenue growth, margins expanding, two acquisitions in line with strategy

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Q2/H1 2024 Results

Sound revenue growth, margins expanding,

two acquisitions in line with strategy

  • Revenue growing by 5.2% in Q2 at constant exchange rates1, +5.3% in H1
  • EMEA as the driving region, North America keeping the pace of Q1
  • Stellest in China and Ray-Ban Meta wearables continuing to grow exponentially
  • Adjusted2 operating profit margin at 18.8%, up 50bps at constant exchange rates1
  • Strong free cash flow5 generation, at Euro 971 million in H1
  • Acquisition of leading diagnostic med-tech platform Heidelberg Engineering and iconic Supreme brand (announced on July 17)

Paris, France (July 25, 2024 – 6:00 pm) – The Board of Directors of EssilorLuxottica met on July 25, 2024 to approve the condensed consolidated interim financial statements for the six months ended June 30, 2024. The Statutory Auditors have performed a limited review of these financial statements.

Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica commented: “In the first half of the year, EssilorLuxottica’s strategy continued to pay off with all regions and businesses contributing to positive results. With top line growth, margin expansion and record cash flow, the last six months further solidified our long-term outlook, made possible thanks to the unique talent and engagement of our 200,000 colleagues worldwide.

Today, our commitment to the two strategic pillars of med-tech and smart eyewear is taking shape, with Stellest seeing exponential growth, the success of Ray-Ban Meta and Nuance Audio set to establish a new category in the market. Announced just last week, the acquisition of Heidelberg Engineering will give us a new foothold in the clinical ophthalmology space.

The third strategic pillar, our iconic brands, will make the first two more accessible, consumer-friendly and relevant. With new collections coming from all our house and licensed brands, including our first-ever for Moncler, and the announced acquisition of Supreme, we are exactly what we need to be: a tech-driven and brand-rich company caring for and connecting with hundreds of millions of people globally.”

Attachment

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.