EssilorLuxottica SA logo

EL - EssilorLuxottica SA News Story

€171.88 3.1  1.8%

Last Trade - 4:36pm

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

UPDATE 1-EssilorLuxottica raises full-year guidance as sales rebound

Fri 30th July, 2021 7:15am
(Adds detail, background)
    July 30 (Reuters) - Oakley and Ray-Ban maker
EssilorLuxottica  ESLX.PA  raised its full-year guidance on
Friday after revenue doubled in the second quarter, helped by a
strong recovery in North America.
    The company now expects revenue for the full year to grow by
a "mid-single digit" rate at constant currencies versus 2019 and
its adjusted operating profit margin to be higher than in 2019.
    EssilorLuxottica, which also makes sunglasses and spectacle
frames for brands such as Chanel, Prada  1913.HK  and Versace
 CPRI.N , previously saw its full-year revenue and adjusted
operating profit margin at least at the same level of 2019.
    "On top of a buoyant U.S., generating more than 50% of the
Group's revenue, other key markets were nicely growing and
fuelling the company's business acceleration, namely France,
Italy, UK, Mainland China, Australia and Brazil," the company
said in a statement.
    Revenue in the second quarter rose to 4.71 billion euros
($5.6 billion), up 103% compared with a year ago and 9.2%
compared with 2019 at constant currencies.
    Operating profit in the first half of the year reached 1.27
billion euros, compared with a loss of 378 million a year ago
and up 35.1% versus 2019.
    ($1 = 0.8420 euros)

 (Reporting by Silvia Recchimuzzi in Gdansk
Editing by Himani Sarkar and David Holmes)
 ((silvia.recchimuzzi@tr.com; +48 58 769 66 95))
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