EssilorLuxottica Q3 Revenues Up 2.3%

(RTTNews) - French ophthalmic company EssilorLuxottica (ESLOF.PK, ESLOY.PK) reported Thursday that its third-quarter total revenue rose 2.3 percent to 6.437 billion euros from 6.294 billion euros last year.

On a constant currency basis, revenues grew 4.0 percent in the quarter.

In the quarter, the wholesale segment, i.e., Professional Solutions, recorded revenue of 3.017 billion euros, up 1.3% from 2.978 billion euros last year.

The retail segment, Direct to Consumer, reported revenues of 3.420 billion euros, up 3.2% from 3.316 billion euros last year.

Looking forward, the company confirms its target of mid-single-digit annual revenue growth from 2022 to 2026 at constant exchange rates, targeting a range of Euro 27-28 billion, and expects to achieve an adjusted operating profit as a percentage of revenue in the range of 19-20% by the end of that period.

Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica commented: "In the third quarter, we maintained solid momentum, with all regions and businesses contributing to steady growth, fueled by our commitment to innovation and excellence."

"We solidified our positioning in the med-tech space, while preparing for the acceleration of the business in the near future, with our myopia management offering and smart glasses roll-out, Nuance Audio launch, Heidelberg Engineering and Supreme additions to the Group's portfolio. The long-term partnership between EssilorLuxottica and Meta continues to write the bold story of smart glasses as the disruptive category in digital eyewear."