The eyewear company EssilorLuxottica earned less than expected in day-to-day business last year due to high costs.
The operating profit margin adjusted for special effects fell by 0.3 percentage points to 16.5 percent, as the French-Italian company announced on Wednesday in Charenton-le-Pont. Headwinds from inflation have had a negative impact on costs, particularly the increase in labor costs. On average, analysts had expected a slight increase in the margin to 16.9 percent. In the coming years up to 2026, management still wants to increase profitability to 19 to 20 percent. The dividend for the past financial year is expected to increase by 22 percent to 3.95 euros per share.
The group, which includes the brands Ray Ban and Oakley, is the global market leader for prescription glasses, sunglasses and contact lenses. Sales increased by 3.7 percent to 25.4 billion euros. The bottom line is that profits rose by 6.3 percent to 2.3 billion euros.