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EL - EssilorLuxottica SA News Story

€171.88 3.1  1.8%

Last Trade - 4:36pm

Consumer Cyclicals
Large Cap
Market Cap £63.93bn
Enterprise Value £66.08bn
Revenue £14.57bn
Position in Universe 17th / 842

BUZZ-EssilorLuxottica in CAC 40's top risers after guidance hike

Fri 30th July, 2021 8:42am
** Shares in EssilorLuxottica  ESLX.PA  rises around 2% as
the Ray-Ban maker upgraded its guidance, citing a sales rebound
in H1
    ** The group now sees FY revenue to grow "around mid-single
digit" at constant exchange rates versus 2019*:nL1N2P60C8
    ** It also expects its adj. operating profit margin to be
higher than in 2019, as revenue came at EUR 4.71 bln ($5.60 bln)
in Q2 
    ** However, although FY guidance is lifted and points to
ongoing demand strength in H2, "EBIT view seems more
circumspect," Jefferies flags
    ** Bryan Garnier says the previous adj. EBIT objective was
perceived as too conservative by many analysts given the growing
contribution from synergies
    ** The stock, which is up over 23% YTD, outperforms France's
CAC 40  .FCHI  index

($1 = 0.8410 euros)

 (Reporting Juliette Portala)
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