EssilorLuxottica’s fourth-quarter and full-year 2021 results: Accelerating in the fourth quarter, above margin guidance & targeting 19-20% margin in 2026
EssilorLuxottica’s fourth-quarter and full-year 2021 results
Accelerating in the fourth quarter, above margin guidance
Targeting 19-20% margin in 2026
EssilorLuxottica including GrandVision (year-on-year change at constant currency1):
- Reported Group revenue1 up 20% in FY versus 2019 and 40% versus 2020
- Comparable revenue1,3up 11% in Q4 and 7.4% in FY versus 2019
- Best quarter of the year with all regions exceeding pre-pandemic revenue1,3
- Double-digit growth1,3 in North and Latin America versus 2019, sunglasses accelerating
- E-commerce revenue4crossing Euro 1.5 billion in FY, +62%1,3 versus 2019 in both Q4 and FY
- Adjusted2operating profit pro forma4as a percentage of revenue at 16.1% in FY
- Free cash flow6at Euro 2.8 billion
- Dividend proposed at Euro 2.51 per share, in cash or shares
Long-Term Outlook (at constant currency1):
- Annual revenue growth 2022-26 at mid-single digit
- Adjusted2 operating profit as a percentage of revenue at 19-20% in 2026
Charenton-le-Pont, France (March 11, 2022 – 7:00 am) – The Board of Directors of EssilorLuxottica met on March 10, 2022 to approve the consolidated financial statements for the year ended December 31, 2021. These financial statements were audited by the Statutory Auditors whose certification report is in the process of being issued.
Francesco Milleri and Paul du Saillant, CEO and Deputy CEO of EssilorLuxottica, said: “Our thoughts go out to all those affected by the tragedy unfolding in Ukraine. At this difficult time, the safety of our people remains our priority and we are providing all the support possible to our affected teams in the region.
Looking at our financial results, 2021 has been an extraordinary year for EssilorLuxottica. In the face of a continuously challenging environment, we managed to grow our sales and profits beyond pre-pandemic levels, meeting our guidance on sales and exceeding it on operating margin. In 2022, we continue to move full speed ahead, thanks to the trust of our customers and partners, and the commitment of our teams, now including our 39,000 GrandVision employees as part of our family. Our innovations and brands, like Stellest, Ray-Ban Stories and Transitions XTRActive, as well as still top-performer Oakley, are paving the way for a new generation of life-changing products, while launching entirely new categories that will benefit the whole industry.
As we build EssilorLuxottica at the heart of our industry, we continue to grow as a socially conscious company. Sustainability remains front and center as we reach carbon neutrality in our two historic home countries Italy and France and work towards the next set of milestones. The future we’re building is a future for everyone – the talent, technology and tenacity we have in this moment is very powerful and we will do great things with it.”
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