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    EL   FR0000121667

ESSILORLUXOTTICA

(EL)
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EssilorLuxottica's second quarter & first half 2021 results : Revenue acceleration, margin expansion, record cash flow & 2021 outlook improved

07/30/2021 | 01:00am EDT

EssilorLuxottica’s second quarter and first half 2021 results

Revenue acceleration, margin expansion and record cash flow

Outlook 2021 improved

Second quarter:

  • Revenue +9.2% versus 2019 at constant exchange rates1
  • North America best performing region, EMEA and Latin America positive
  • Professional Solutions and Direct to Consumer both growing and accelerating
  • Optical and sun both growing, with sun catching up in pace
  • E-commerce +66% versus 2019 at constant exchange rates1, reaching 9% of total revenue

First half:

  • Operating profit +35% versus 2019 at constant exchange rates1
  • Adjusted2operating profit margin at 18.5%, up 130 basis points versus 2019
  • Free cash flow4record generation at Euro 1.2 billion

Charenton-le-Pont, France (30 July 2021, 7:00 am) – The Board of Directors of EssilorLuxottica met on 29 July 2021 to approve the condensed consolidated interim financial statements for the six months ended 30 June 2021. The Statutory Auditors have performed a limited review of these financial statements. Their report is in the process of being issued.

“We delivered another strong set of results in the first half, despite the ongoing challenges of the pandemic. Our continued focus on premium products and brands, a powerful supply chain and a global community of talented and engaged employees helped us get there.

In the second quarter, we wrote some important pages in EssilorLuxottica’s history by clarifying our governance and building one unified company, while continuing to expand our retail footprint in Europe by completing the acquisition of GrandVision.

Looking to the future, we’re proud to share our new company-wide Sustainability approach, “Eyes on the Planet”, built around key pillars including carbon, circularity, world sight, inclusion and ethics. As a sign of our long-term commitment in this area, today we announce our target to achieve carbon neutrality across our direct operations by 2025, starting in Europe by 2023. Doing good for our customers, consumers and communities, and doing good for our planet gives us even greater confidence about what lies ahead”, said Francesco Milleri, CEO of EssilorLuxottica and Paul du Saillant, Deputy CEO of EssilorLuxottica.

  

EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. The Company brings together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear, to set new industry standards for vision care and the consumer experience around it. Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux and Transitions, and world-class retail brands including Sunglass Hut and LensCrafters as well as – since 1 July 2021 via a 76.72% interest – GrandVision network are part of the EssilorLuxottica family. In 2020, EssilorLuxottica had over 140,000 employees and consolidated revenues of Euro 14.4 billion. The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP.

CONTACTS

Head of Investor Relations
Giorgio Iannella
E-mail: ir@essilorluxottica.com
Head of Corporate Communications
Marco Catalani
E-mail: media@essilorluxottica.com

 

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Financials
Sales 2021 19 874 M 23 324 M 23 324 M
Net income 2021 1 915 M 2 247 M 2 247 M
Net Debt 2021 7 875 M 9 242 M 9 242 M
P/E ratio 2021 38,9x
Yield 2021 1,40%
Capitalization 76 536 M 89 821 M 89 820 M
EV / Sales 2021 4,25x
EV / Sales 2022 3,68x
Nbr of Employees 144 888
Free-Float 63,6%
Chart ESSILORLUXOTTICA
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EssilorLuxottica Technical Analysis Chart | EL | FR0000121667 | MarketScreener
Technical analysis trends ESSILORLUXOTTICA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 173,72 €
Average target price 173,19 €
Spread / Average Target -0,31%
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