EssilorLuxottica’s first-quarter 2022 revenue
Another quarter of double-digit growth
- Revenue at Euro 5.6 billion, up 38% vs 2021
- Comparable2 revenue up 11.5% at constant exchange rates1, all regions positive
- EMEA and Latin America up double digits, North America still robust
- Sun back to normal business, leveraging reopening and luxury momentum
- Sound progression in optical, driven by branded lens portfolio
- Ray-Ban and Oakley up double digits
Another quarter of double-digit growth
- Revenue at Euro 5.6 billion, up 38% vs 2021
- Comparable2 revenue up 11.5% at constant exchange rates1, all regions positive
- EMEA and Latin America up double digits, North America still robust
- Sun back to normal business, leveraging reopening and luxury momentum
- Sound progression in optical, driven by branded lens portfolio
- Ray-Ban and Oakley up double digits
Charenton-le-Pont, France (April 22, 2022 – 7:00 am) – EssilorLuxottica today announced that consolidated revenue for the first quarter of 2022 totalled Euro 5,607 million, representing a year-on-year increase of 33.1% at constant exchange rates1 compared to the first quarter of 2021 (+38.1% at current exchange rates). On a comparable2 basis, revenue grew by 11.5% at constant exchange rates1 (+15.7% at current exchange rates).
Francesco Milleri and Paul du Saillant, respectively CEO and Deputy CEO of EssilorLuxottica, said: “We’re very pleased to report a strong start to the year, with a solid performance in all regions and divisions showing positive results. It’s a great moment for EssilorLuxottica - we are off to a good sun season, demand for luxury brands continues and our innovative products like Stellest are beginning to rewrite the story of sight for so many people. The fast-pace integration of GrandVision represents a meaningful milestone in our journey as a vertically integrated network company, committed to growing the industry for all stakeholders.
As a Mission-driven company, we also continued our philanthropic and inclusive business initiatives. In the first three months of the year, we created access to vision care for nearly 2 million people and allowed for nearly one thousand vision care entrepreneurs to be trained in developing communities. Since 2013, our actions have brought the benefits of good vision to more than 475 million people in underserved communities.
We raised Euro 4 million to help people in Ukraine and provided direct support to our colleagues and their families in the region. Our financial contribution, which includes donations from 10,000 employees, a 1:1 match from EssilorLuxottica and a Euro 1 million contribution from the Leonardo Del Vecchio Foundation, will support valuable NGOs in the field. We are proud of this initiative and our people's engagement around topics that matter.”
Notes
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 Comparable (revenue): comparable revenue includes, for all periods presented, the contribution of GrandVision’s revenue to EssilorLuxottica as if the combination between EssilorLuxottica and GrandVision (the “GV Acquisition” or "GV Combination"), as well as the disposals of businesses required by antitrust authorities in the context of the GV Acquisition, had occurred on January 1, 2021. Comparable revenue has been prepared for illustrative purposes only with the aim to provide comparable information.
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.
