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Essilor Luxottica : Sales rebound in the second quarter

Essilor Luxottica : Sales rebound in the second quarter

While we learned a few days ago that Essilor Luxottica was fined for imposing retail prices on opticians in France, the Franco-Italian company unveiled its positive results for the second quarter on Friday.

 

Essilor Luxottica is the world leader in the field of 360-degree lenses, whether it be design, manufacturing or distribution. Manufacturer of the famous eyewear brands Ray-Ban and Oakley, Essilor also works for prestigious houses such as Chanel, Prada, Bvlgari, Valentino

 

Essilor Luxoticca revealed that it had doubled its turnover in the second quarter of this year, driven in particular by a strong recovery in North America, to €4.71 billion, up 103% on 2020 and 9.2% on 2019, at constant exchange rates.

 

The group now expects “full year revenue to grow at a mid-single digit rate at constant currency compared to 2019 and its adjusted operating margin to be higher than in 2019.”

 

Operating profit for the first half of the year reached €1.27 billion, compared to a loss of €378 million, for the full year 2020 and an increase of 35.1% compared to 2019.

 

The United States is the most profitable nation for Essilor, with 50% of sales generated in the country of Uncle Sam. But other geographic markets such as France, Italy, the United Kingdom, mainland China, Australia and Brazil are seeing good growth for the group’s business.

 

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Given the fast-changing health situation in the world, everything can turn around and fall, as the group explains. “Despite solid growth in mainland China and Australia, Asia-Pacific declined slightly due to the new wave of Covid-19 in most Asian countries,” the statement said.

 

Read also > EYEWEAR: ESSILOR LUXOTTICA, LVMH AND CHANEL SANCTIONED

 

Featured photo : © EssilorLuxottica

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