EssilorLuxottica Q4/FY 2023 Results – 2023: another record year for EssilorLuxottica

Q4/FY 2023 RESULTS

2023: another record year for EssilorLuxottica

• Group revenue at constant exchange rates¹ +7.1% in Q4 and FY, third consecutive year >7%
• Nice acceleration in North America in Q4, EMEA keeping the sound pace of Q3
• Innovation as a key driver, with Stellest, Varilux XR and Ray-Ban Meta
• Frame portfolio strengthened with new brands, licenses growing double digits
• Nuance Audio disruptive innovation successfully presented at the CES in Las Vegas
• Adjusted² operating margin at 16.9% at constant exchange rates¹
• Free cash flow⁵ at Euro 2.4 billion in FY, after strong investments in operations, digital and AI technologies
• Dividend proposed at Euro 3.95 per share, up 22% vs 2022
• Advancing on people engagement, setting the Group’s new values

Charenton-le-Pont, France (February 14, 2024 – 6:00 pm) – The Board of Directors of EssilorLuxottica met on February 14, 2024 to approve the consolidated financial statements for the year ended December 31, 2023. These financial statements were audited by the Statutory Auditors whose audit report is in the process of being issued.

Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica commented: “We’re proud to share these strong results with our stakeholders, delivering another year above 7% revenue growth¹, including an acceleration in Q4, with every one of our regions doing its part. Our profitability remained strong, with a record adjusted ² Group net profit close to 3 billion euros and free cash flow ⁵ at 2.4 billion. It was also a year of major investments: growing new product categories, with Stellest in myopia and Ray-Ban Meta in wearables, adding beloved brands like Moncler and Jimmy Choo to our portfolio, leveraging artificial and business intelligence, expanding our operations footprint and reinforcing the retail presence globally. This will support the evolution of the Company and the transformation of the industry over the next decade.

Moreover, Nuance Audio’s debut at CES created a resounding buzz around EssilorLuxottica and our disruptive proposition in the audio space that bridges two industries combining good vision and better hearing.

We also progressed on our sustainability roadmap, Eyes on the Planet, reaching carbon neutrality in Europe and continuing our journey to connect our communities around the world with a common culture and shared values, growing our employee shareholders globally to almost 80,000.

With all these positive results and momentum, we are confident that we will keep the pace and meet our long-term targets. After three years of strong results, the Board of Directors has unanimously agreed on the distribution of a dividend of Euro 3.95 per share.”

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