EssilorLuxottica : EssilorLuxottica’s third-quarter 2021 revenue / Keeping the pace of a fast recovery at +9% / Full year outlook upgraded again and GrandVision consolidationSource: OMX
EssilorLuxottica’s third-quarter 2021 revenue
Keeping the pace of a fast recovery at +9%
Full year outlook upgraded again and GrandVision consolidation
EssilorLuxottica including GrandVision:
- Q3 total revenue close to Euro 5.5 billion, +33% versus 2019 at constant exchange rates1
- Q3 comparable3 revenue +9.3% versus 2019 at constant exchange rates1
- Consolidated free cash flow5 at Euro 2.3 billion in first nine months
EssilorLuxottica excluding GrandVision:
- Q3 total revenue +9.0% versus 2019 at constant exchange rates1
- North America still up double digits, EMEA and Latam accelerating, Asia-Pacific still negative
- Professional Solutions positive and accelerating in all regions
- Comparable-store sales4 steadily positive, up double digits in North America
- E-commerce up approximately 50%, at 8% of total revenue year to date
- FY 2021 outlook upgraded again
Charenton-le-Pont, France (October 29, 2021 – 7:00 am) – EssilorLuxottica today announced that consolidated revenue including GrandVision (consolidated since July 1, i.e. for the third quarter only) totalled Euro 14,241 million in the first nine months of the year. On a comparable3 basis, consolidated revenue amounted to Euro 5,465 million in the third quarter and Euro 15,918 million in the nine months, +9.3% and +6.2% respectively at constant exchange rates1 versus the same periods of 2019.
Francesco Milleri and Paul du Saillant, CEO and Deputy CEO of EssilorLuxottica, said: “We are proud of the revenue performance our Company delivered in the third quarter of the year, keeping the pace of the fast recovery already posted in the second quarter. Including GrandVision, in its first quarter of consolidation into the Group, EssilorLuxottica’s comparable3 revenue grew even faster, at 9.3% versus pre-COVID levels at constant exchange rates1. Moreover, while accelerating in revenue, our Company has materially expanded its margins, proving to which extent it can operationally leverage the business growth. This has led us to upgrade once again our outlook for the full year, now pointing to a more material operating margin lift. Such a sound performance is driven by the Company’s omnichannel and open business model, its new integrated commercial initiatives and its rich innovation pipeline, all at the heart of its long-term strategy.
In the context of the World Sight Day, celebrated on October 14, we're also pleased to highlight all the initiatives the Company put in place in many different geographies to give vision a voice, while its ‘Eyes on the Planet’ sustainability program continues to progress nicely, based on the five pillars of carbon, circularity, world sight, inclusion and ethics”.
EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. The Company brings together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear, to set new industry standards for vision care and the consumer experience around it. Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux and Transitions, and world-class retail brands including Sunglass Hut and LensCrafters as well as – since July 1, 2021, via a majority interest – GrandVision network are part of the EssilorLuxottica family. In 2020, EssilorLuxottica had over 140,000 employees and consolidated revenues of Euro 14.4 billion. The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP.
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