Q2/H1 2025 Results
Sound revenue growth at 7.3% in Q2 and H1
AI glasses speeding up further
- Group’s revenue growing 7.3% in both Q2 and H1 (constant exchange rates1)
- North America accelerating in PS, DTC keeping a solid growth pace
- EMEA confirming the strong performance of PS and DTC, as the best region for the Group
- AI glasses Ray-Ban Meta up more than 200% in sales in H1
- AI glasses Oakley Meta on the blocks, successful launch of the 50th anniversary edition
- Nuance Audio already rolled out in 10k doors across North America and Europe
- Adjusted2 operating margin stable at 18.3% in H1 (constant exchange rates1)
- Sound free cash flow5 generation at Euro 951 million
- Acquisition of Optegra clinics marking a further step into the new MedTech journey
Sound revenue growth at 7.3% in Q2 and H1
AI glasses speeding up further
- Group’s revenue growing 7.3% in both Q2 and H1 (constant exchange rates1)
- North America accelerating in PS, DTC keeping a solid growth pace
- EMEA confirming the strong performance of PS and DTC, as the best region for the Group
- AI glasses Ray-Ban Meta up more than 200% in sales in H1
- AI glasses Oakley Meta on the blocks, successful launch of the 50th anniversary edition
- Nuance Audio already rolled out in 10k doors across North America and Europe
- Adjusted2 operating margin stable at 18.3% in H1 (constant exchange rates1)
- Sound free cash flow5 generation at Euro 951 million
- Acquisition of Optegra clinics marking a further step into the new MedTech journey
Paris, France (July 28, 2025 - 6:00 pm) – The Board of Directors of EssilorLuxottica met on July 28, 2025 to approve the condensed consolidated interim financial statements for the six months ended June 30, 2025. 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: “With a strong first half, including top-line growth and momentum across all regions and businesses, we are keeping pace with our growth targets despite a volatile environment.
We are leading the transformation of glasses as the next computing platform, one where AI, sensory tech and a data-rich healthcare infrastructure will converge to empower humans and unlock our full potential. The success of Ray-Ban Meta, the launch of Oakley Meta Performance AI glasses and the positive response to Nuance Audio are major milestones for us in this new frontier.
As we advance our med-tech journey and prepare to welcome Optegra, we’re shaping the most personalized, adaptive patient experience to date. Our offering will span comprehensive eyecare, advanced diagnostics and eye treatment, while paving the way for early detection of broader systemic conditions. We are fortifying our leadership in myopia management with Stellest 2.0. At the same time, as we proudly celebrate Oakley’s 50th anniversary, we continue driving innovation at our core, with AI-powered Varilux Physio Extensee technology and Ray-Ban’s bold Puffer collection among others wins that have us moving into the second half with confidence.
As always, we remain true to our long-term ambitions and our commitment to shaping a future of meaningful global change, and we are thankful to our over 200,000 passionate and talented colleagues who help bring our vision to life”.
Notes
As table totals are based on unrounded figures, there may be discrepancies between these totals and the sum of their rounded component.
1 Constant exchange rates: figures at constant exchange rates have been calculated using the average exchange rates in effect for the corresponding period in the relevant comparative year.
2 Adjusted measures or figures: adjusted from the expenses or income related to the combination of Essilor and Luxottica (the “EL Combination”), the acquisition of GrandVision (the “GV Acquisition”), other strategic and material acquisitions, and other transactions that are unusual, infrequent or unrelated to the normal course of business as the impact of these events might affect the understanding of the Group’s performance. A description of those other transactions that are unusual, infrequent or unrelated to the normal course of business is provided in the half-year and year-end disclosure (see dedicated paragraph Adjusted measures).
3 Comparable-store sales: reflect, for comparison purposes, the change in sales from one period to another by taking into account in the more recent period only those stores already open during the comparable prior period. For each geographic area, the calculation applies the average exchange rate of the prior period to both periods.
4 Comparable or pro forma (revenue): comparable revenue includes the contribution of GrandVision’s revenue to EssilorLuxottica as if the combination between EssilorLuxottica and GrandVision (the “GV Acquisition”), as well as the disposals of businesses required by antitrust authorities in the context of the GV Acquisition, had occurred at the beginning of the year (i.e. January 1). Comparable revenue has been prepared for illustrative purpose only with the aim to provide meaningful comparable information.
5 Free Cash Flow: Net cash flow provided by operating activities less the sum of Purchase of property, plant and equipment and intangible assets and Cash payments for the principal portion of lease liabilities according to the IFRS consolidated statement of cash flow.
6 Net debt: sum of Current and Non-current borrowings, Current and Non-current lease liabilities, minus Short-term investments, Cash and cash equivalents and the Financial debt derivatives at fair value as disclosed in the IFRS consolidated financial statements.