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EssilorLuxottica’s second-quarter and first-half 2022 results: Sound revenue growth and strong margin expansion in a challenging environment

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EssilorLuxottica
EssilorLuxottica

EssilorLuxottica’s second-quarter and first-half 2022 results

Sound revenue growth and strong margin expansion
in a challenging environment

  • Group’s revenue up 36% in Q2 and 37% in H1 vs 2021

  • Comparable revenue1,3 up 7.0% in Q2 and 9.1% in H1 vs 2021

  • EMEA continuing to grow double digits, NA decelerating but still positive

  • GrandVision at Group’s pace, with comparable-store sales5 at +7% in Q2

  • Adjusted2 operating margin at 18.4% in H1, up 100bps vs pro forma4 H1 2021

  • Adjusted2 Group’s net profit at Euro 1,548 million, up 26% vs pro forma4 H1 2021

  • Free cash flow6 at Euro 906 million in H1

Charenton-le-Pont, France (July 29, 2022 - 7:00 am) – The Board of Directors of EssilorLuxottica met on July 28, 2022 to approve the condensed consolidated interim financial statements for the six months ended June 30, 2022. The Statutory Auditors have performed a limited review of these financial statements. Their report is in the process of being issued.

Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica commented: “We’re pleased to report a strong first half of 2022, with sound growth in all regions and a substantial increase of our operating margin. Our performance, particularly in a challenging environment, reflects the strength of our open network model, our willingness to push the boundaries of innovation and the skills and energy of our people. This benefits all our stakeholders, starting with our customers.

At the same time, we paved the way for our long-term growth boosted by key projects and partnerships as well as the GrandVision integration, which is already bringing benefits.

We launched the OneSight EssilorLuxottica Foundation to maximize our impact, an important step in achieving our goal to eradicate poor vision in the world in a generation.

As we look ahead, we will continue to carry out the vision of our Chairman Leonardo Del Vecchio, whose leadership and values remain an inspiration to all of us.

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