First-half 2019 results. Combination at work and acceleration of the integration process. Strong free cash flow
- Revenue growth of 7.3%1 (+3.9%1 at constant exchange rates2)
- 2Q sales growth higher than in 1Q at constant exchange rates2
- Adjusted6 net profit growth in line with revenue growth1
- Free cash flow7 of Euro 748 million
- Management focus on accelerating the integration and simplification of the Group
- Full-year objectives confirmed
Charenton-le-Pont, France (July 31, 2019 – 7:00am) - The Board of Directors of EssilorLuxottica met on July 30, 2019 to approve the condensed consolidated interim financial statements for the six months ended June 30, 2019. The Statutory Auditors have performed a limited review of these financial statements. The Board of Directors has also approved the Unaudited Pro Forma1 condensed Consolidated Interim Financial Information, which has been prepared for illustrative purposes only.
“We are pleased with the results of the first half which show growth for the Group in terms of sales and a steady pace of profitability. The quality of our business is reflected not only in the numbers but also in the confirmation of trust and collaboration from Bulgari and other leading luxury and fashion houses. We now expect the second half of the year to deliver further growth and a strong improvement in profitability compared to last year, thanks to the launch of a new generation of products in the market that will allow us to improve the consumer experience. The expected synergies are well addressed, and we will take action on them according to the plans we communicated to the market,” commented the Executive Chairman Leonardo Del Vecchio.
“EssilorLuxottica’s results are a testament to its powerful mission and integrated yet open business model. Unmet demand for eyesight improvement translated into particularly significant gains for Essilor’s vision correction and sun protection solutions as well as for Luxottica’s retail activities. The good results posted by the divisions are also proof that buy-in is strong among eyecare professionals for our efforts to reimagine the consumer experience. Our investments in customer relations, network segmentation, innovative products and services, omni-channel solutions, the digitalization of our businesses and fast-growing markets, are all bearing fruit. At the same time, the integration of the two companies is moving forward in order to create a more efficient and responsive operating platform”, said Hubert Sagnières, Executive Vice Chairman of EssilorLuxottica.
A conference call in English will be held today at 10:30 am CET.
The meeting will be available live and may also be heard later at: