The eyewear group EssilorLuxottica grew surprisingly strongly in the second quarter.
Company boss Francesco Milleri was particularly satisfied with the growth in all regions and the increased operating margin, as the company announced on Friday when presenting the quarterly figures in Charenton-Le-Pont. The group exceeded the expectations of the analysts in terms of both sales and the operating result.
In the first half of the year, sales increased by around 37 percent compared to the same period of the previous year to almost 12 billion euros. Adjusted for currency effects and on a comparable basis, growth was still a good 9 percent and weakened somewhat compared to the first quarter. The group calculates as if the company Grandvision, which has been fully consolidated since July and to which the German chain Apollo belongs, had already contributed in the same period last year.
Adjusted operating profit of EUR 2.2 billion, adjusted for currency effects, was more than 14 percent more than a year earlier. The bottom line is that the group earned more than a third more with a good 1.17 billion euros.
Management confirmed its mid-term goal of achieving mid-single-digit annual currency-neutral revenue growth from 2022 to 2026. Adjusted operating profit is expected to remain 19 to 20 percent at the end of the period.