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    EL   FR0000121667

ESSILORLUXOTTICA

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EssilorLuxottica : Presentation PDF 1.80MB

07/30/2021 | 04:19am EDT

ESSILORLUXOTTICA

H1 2021 RESULTS

30 July 2021

Picture: Stellest launch in China, Guangzhou Tower

OVERVIEW Q2 & H1 2021

  • Sharp acceleration of the business, on improved macro- economic environment and more effective execution
  • Revenue +9.2% in Q2 vs 2019
    • North America driving the performance
    • Professional Solutions and Direct to Consumer segments both accelerating
    • Optical and sun both growing, sun catching up
    • E-commerceup 66%, at 9% of total business
  • Operating leverage and cost containment led the adjusted operating margin up to 18.5% in H1
  • Strong cash generation, at Euro 1.2 billion in H1
  • New governance at work, speeding up the execution
  • GrandVision closed, combining the three champions of the industry into a single stronger group

The presentation should be read together with the press release dated 30 July 2021 available at www.essilorluxottica.comunder the

H1 2021 Results Investors tab. All the brands mentioned in this presentation are intended to be trademark protected. All comments are versus Q2 2019 at constant exchange rates, unless otherwise specified.

FINANCIAL HIGHLIGHTS H1 2021

TOTAL REVENUE

EUR 8,768 mln

ADJUSTED OPERATING PROFIT (%)

18.5%

ADJUSTED GROUP NET PROFIT

EUR 1,117 mln

FREE CASH FLOW

EUR 1,211 mln

NET DEBT

EUR 1,945 mln

H1 2021 Results

3

OUTLOOK FY 2021

In the light of H1 results and with the current level of visibility, the Company's outlook for the full year 2021 is upgraded.

EssilorLuxottica now expects:

  • Revenue to grow around mid-single digit versus 2019 at constant exchange rates.
  • Adjusted operating profit as a percentage of revenue at constant exchange rate higher than 2019.

This assumes that no further COVID-19 related restrictions will be introduced in the second half of the year.

Such targets refer to the EssilorLuxottica perimeter, excluding GrandVision which will be consolidated from 1 July 2021.

H1 2021 Results

4

INTRODUCING NEW CHANNEL-BASED SEGMENT REPORTING

Supply of eyecare and eyewear

Sales of eyecare and eyewear

products and services

products and services

to third-party professionals

to end consumers

GROUP

PS

DTC

Professional

Direct to

Solutions

@ Consumer

Group wholesale business

Group retail business

(physical stores and e-commerce)

H1 2021 Results

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

EssilorLuxottica SA published this content on 30 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2021 08:18:08 UTC.


ę Publicnow 2021
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Financials
Sales 2021 19 874 M 23 236 M 23 236 M
Net income 2021 1 915 M 2 239 M 2 239 M
Net Debt 2021 7 875 M 9 208 M 9 208 M
P/E ratio 2021 37,7x
Yield 2021 1,45%
Capitalization 74 122 M 86 733 M 86 660 M
EV / Sales 2021 4,13x
EV / Sales 2022 3,58x
Nbr of Employees 144 888
Free-Float 63,6%
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Technical analysis trends ESSILORLUXOTTICA
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 168,24 €
Average target price 173,19 €
Spread / Average Target 2,94%
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