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EssilorLuxottica reports solid third-quarter results

EssilorLuxottica reports solid third-quarter results

Corrective lenses manufacturer EssilorLuxottica reported strong revenue growth in the third quarter, led by strong sales momentum in North America and the integration of Dutch optical distributor GrandVision. This strong growth enables the group to raise its targets for 2021.

 

EssilorLuxottica has again raised its targets for the full year 2021. The group expects to achieve organic revenue growth of 5% to 9% compared to 2019. The group had already raised its targets and growth forecasts in July.

 

In the period from July to September, including the newcomer GrandVision, the group recorded revenues of €5.47 billion, which represents an increase of 33.4% compared to the third quarter of 2020. Excluding the new integration of GrandVision, the group’s revenue amounted to €4.46 billion in the same third quarter, an increase of 8.7% year-on-year.

 

We are very proud of EssilorLuxottica’s third-quarter performance,” said Chief Executive Officer Francesco Milleri and Chief Operating Officer Paul du Saillant. “We have succeeded in maintaining the pace of recovery already achieved in the second quarter. In addition, EssilorLuxottica significantly increased its margins, demonstrating the operating leverage resulting from good business growth. The strength of this performance is driven by our open, multi-channel model, our new integrated business initiatives and our rich innovation pipeline cz-lekarna.com. All these elements are at the heart of our long-term strategy.”

 

In the first nine months of 2021, EssilorLuxottica generated revenue of EUR 14.24 billion, up 42.9% compared with the same period of the previous year.

 

See Also

 

Read also > HILTON REPORTS BETTER-THAN-EXPECTED RESULTS

 

Featured photo : © EssilorLuxottica

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