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    EL   FR0000121667

ESSILORLUXOTTICA

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EssilorLuxottica Posts Third-Quarter Revenue Jump, Raises 2021 Outlook

10/29/2021 | 01:41am EST

By Cecilia Butini

EssilorLuxottica SA said Friday that revenue rose in the third quarter and upgraded its revenue growth outlook for the year.

The eyewear company posted revenue of 5.47 billion euros ($6.39 billion) for the period. The result included GrandVision, which it consolidated on July 1. It represents a 33.4% increase at constant exchange rates compared with the same quarter of 2020, when the company posted EUR4.09 billion in revenue.

Excluding GrandVision, the company's revenue for the quarter was EUR4.46 billion, up 9% from pre-pandemic levels in 2019, it said.

EssilorLuxottica upgraded its full-year 2021 guidance in light of the quarterly performance and now expects mid-to-high single-digit revenue growth versus 2019 at constant exchange rates, up from previous expectations of mid-single-digit growth.

It also expects up to 100 basis points progress in adjusted operating profit as a percentage of revenue compared with 2019 at constant exchange rates, it said. The targets refer to EssilorLuxottica excluding GrandVision, the company said.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

10-29-21 0140ET

Stocks mentioned in the article
ChangeLast1st jan.
ESSILORLUXOTTICA -1.56% 170.62 Real-time Quote.-8.88%
GRANDVISION N.V. -0.70% 28.3 End-of-day quote.0.53%
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Analyst Recommendations on ESSILORLUXOTTICA
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Financials
Sales 2021 19 653 M 22 432 M 22 432 M
Net income 2021 1 922 M 2 194 M 2 194 M
Net Debt 2021 9 509 M 10 854 M 10 854 M
P/E ratio 2021 40,6x
Yield 2021 1,43%
Capitalization 69 606 M 79 504 M 79 448 M
EV / Sales 2021 4,03x
EV / Sales 2022 3,42x
Nbr of Employees 144 888
Free-Float -
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EssilorLuxottica Technical Analysis Chart | EL | FR0000121667 | MarketScreener
Technical analysis trends ESSILORLUXOTTICA
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 170,62 €
Average target price 188,90 €
Spread / Average Target 10,7%
EPS Revisions
Managers and Directors
Francesco Milleri Chief Executive Officer & Non-Independent Director
Stefano Grassi Co-Chief Financial Officer
David Wielemans Co-Chief Financial Officer
Leonardo del Vecchio Executive Chairman
Jean Carrier-Guillomet Co-Chief Operating Officer
Sector and Competitors