EssilorLuxottica: Q2/H1 2024 Results – Sound revenue growth, margins expanding, two acquisitions in line with strategy

Q2/H1 2024 Results

Sound revenue growth, margins expanding,

two acquisitions in line with strategy

• Revenue growing by 5.2% in Q2 at constant exchange rates¹, +5.3% in H1
• EMEA as the driving region, North America keeping the pace of Q1
• Stellest in China and Ray-Ban Meta wearables continuing to grow exponentially
• Adjusted² operating profit margin at 18.8%, up 50bps at constant exchange rates¹
• Strong free cash flow⁵ generation, at Euro 971 million in H1
• Acquisition of leading diagnostic med-tech platform Heidelberg Engineering and iconic Supreme brand (announced on July 17)

Paris, France (July 25, 2024 – 6:00 pm) – The Board of Directors of EssilorLuxottica met on July 25, 2024 to approve the condensed consolidated interim financial statements for the six months ended June 30, 2024. The Statutory Auditors have performed a limited review of these financial statements.

Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica commented: “In the first half of the year, EssilorLuxottica’s strategy continued to pay off with all regions and businesses contributing to positive results. With top line growth, margin expansion and record cash flow, the last six months further solidified our long-term outlook, made possible thanks to the unique talent and engagement of our 200,000 colleagues worldwide.

Today, our commitment to the two strategic pillars of med-tech and smart eyewear is taking shape, with Stellest seeing exponential growth, the success of Ray-Ban Meta and Nuance Audio set to establish a new category in the market. Announced just last week, the acquisition of Heidelberg Engineering will give us a new foothold in the clinical ophthalmology space.

The third strategic pillar, our iconic brands, will make the first two more accessible, consumer-friendly and relevant. With new collections coming from all our house and licensed brands, including our first-ever for Moncler, and the announced acquisition of Supreme, we are exactly what we need to be: a tech-driven and brand-rich company caring for and connecting with hundreds of millions of people globally.”

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