News
James B. Bell
- August 08, 2023
By Maitane Sardon
EssilorLuxottica, the Franco-Italian eyewear group, announced impressive financial results for the first half of the year and reaffirmed its growth targets for 2026. The company reported an adjusted operating profit of €2.35 billion ($2.60 billion) for the first six months, representing a 9% increase in constant currency compared to the same period last year.
The group achieved an operating margin of 18.5% and a net profit of €1.36 billion. Its revenue for the first half totaled €12.85 billion, showing an 8% growth at constant exchange rates.
During the second quarter, EssilorLuxottica experienced positive revenue growth across all business areas except for sun retail in the U.S., which saw a decline due to weakened market demand.
Looking ahead, the company remains confident in its ability to achieve mid-single-digit annual revenue growth from 2022 to 2026, maintaining constant exchange rates. Additionally, EssilorLuxottica aims to attain an adjusted operating profit as a percentage of revenue ranging from 19% to 20% by the end of 2026.
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