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 firstname.lastname@example.org
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