3 min read - Published on 5 May 2020
Q1 2020 Results
Good resistance for the first quarter with revenue down 10%
Taking measures to control costs and preserve cash
Preparing for recovery and delivering on our responsibilities to all
- Solid growth up to February, followed by material declines in March due to COVID-19
- Optical business less affected, Online sales up double digits
- Robust balance sheet and liquidity with Euro 4.9 billion in cash and short-term investments
- Positioned for recovery with strong product pipeline and go to market strategy
- Enhanced corporate citizenship to support communities, employees and customers
Good resistance for the first quarter with revenue down 10%
Taking measures to control costs and preserve cash
Preparing for recovery and delivering on our responsibilities to all
- Solid growth up to February, followed by material declines in March due to COVID-19
- Optical business less affected, Online sales up double digits
- Robust balance sheet and liquidity with Euro 4.9 billion in cash and short-term investments
- Positioned for recovery with strong product pipeline and go to market strategy
- Enhanced corporate citizenship to support communities, employees and customers
Charenton-le-Pont, France (May 5, 2020 – 7:00am) – EssilorLuxottica today announced that consolidated revenue for the first quarter of 2020 totalled Euro 3,784 million, representing a year-onyear decline of 10.1% compared to Q1 2019 revenue (-10.9% at constant exchange rates1), revealing good resistance in the current unprecedented global crisis.
