Q4/Full Year 2025 Results

Revenue¹ growing 18.4% in Q4 and 11.2% in the FY

Adj. operating margin^1,2 at 16.0% in the FY

 

• Group’s revenue at Euro 28,491 million in the FY, +11.2% at constant exchange rates¹, with Q4 at +18.4%

• North America, EMEA and Asia-Pacific regions all growing double digits in Q4 and FY

• AI-glasses selling more than 7 million units in the FY, with all the regions and brands contributing

• Nuance Audio’s year-one closing on a promising tone, now available in 12 markets and 15k doors worldwide

• Myopia management portfolio +22% in revenue worldwide, US on the blocks for a strong start

• Adjusted² operating margin at 16.0% at constant exchange rates¹, impacted by US tariffs and AI-glasses

• Record free cash flow⁴ at Euro 2.8 billion in the FY, Euro 400 million higher than 2024

• Dividend proposed at Euro 4.00, offering a scrip dividend option

• New long-term outlook: on average, over the next five years, at constant exchange rates¹, the Company is planning to deliver a solid growth of its total revenue and a broadly aligned growth of the adjusted² operating profit