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The global eyewear behemoth has no regrets about the 2018 merger of its two constituent entities: Essilor and Luxottica. The takeover of GrandVision, the Dutch retail giant, in mid-2021 also looks like a good deal.<\/p>\n
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EssilorLuxottica has indeed shown a very good performance for the year 2022.<\/p>\n
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Its annual turnover<\/strong> (restated to include GrandVision sales for the full year) rose by 14% to EUR 24.5 billion<\/strong>. Although slightly below the expectations of analysts surveyed by Factset, this is a record level<\/strong> for EssilorLuxottica.<\/p>\n <\/p>\n The group’s share of net profit<\/strong> was rounded up by<\/strong> 50% to EUR 2.1 billion<\/strong> in 2022.<\/p>\n <\/p>\n Lastly, adjusted operating profit<\/strong> from the acquisition of GrandVision was up 21% to EUR 4.1 billion<\/strong>. The adjusted operating margin has thus risen from 16.1% of its turnover in 2021 to 16.8% in 2022.<\/p>\n <\/p>\n <\/p>\n Its sales of lenses and optical equipment (“direct to consumer” division) rose last year by 8.6% at constant exchange rates to \u20ac12.7 billion. Wholesale sales rose by 6.3% to 11.7 billion euros.<\/p>\n <\/p>\n Geographically, growth was achieved everywhere<\/strong>. Turnover in North America, its largest market, rose by a further 4% to almost 11.5 billion euros. In its second largest market, Europe, sales rose by 11.2% to 8.7 billion euros. Asia-Pacific and Latin America also showed strong growth (+7.2% to 2.8 billion euros and +13.1% to 1.4 billion euros respectively).<\/p>\n <\/p>\n <\/p>\n These results allow Essilorluxottica to be generous with its shareholders: its board of directors will recommend to the general meeting the distribution of a dividend of 3.23 euros compared with 2.51 euros per share a year ago.<\/p>\n <\/p>\n Finally, the group continues to wear its rose-coloured glasses and confirms its objectives: annual growth in turnover at constant exchange rates of around 5% between 2022 and 2026, and adjusted operating profit of around 19 to 20% of turnover at the end of this period.<\/strong><\/p>\n <\/p>\n <\/p>\n Read also >\u00a0EssilorLuxottica x Ferrari : a strengthened partnership<\/a><\/p>\n <\/p>\nGrowth everywhere<\/h2>\n
Pink glasses<\/h2>\n