EssilorLuxottica’s latest quarter reaches €6.3bn, Stellest doubles its revenues in China

10月 25, 2023

European eyewear giant EssilorLuxottica announced its data for the third quarter of the fiscal year 2023 ending Sept. 30. At constant exchange rates, revenue increased by 5.2% year-on-year to 6.294 billion euros (at current exchange rates: -1.6%).

In China, Stellest, the myopia prevention and control lens business, again doubled its revenues, driving an 11.7% year-on-year increase in Asia-Pacific revenues to €760 million, making it the best-performing major market.

The slight deceleration in the third quarter compared to the previous quarter was mainly due to a slowdown in the expansion of sunglasses products into EMEA from a predominantly North American market, as well as a higher base in Asia-Pacific in the previous quarter. Nevertheless, the Group’s sales revenues for the first three quarters still rose by 7.2% year-on-year to €19,145 million (at current exchange rates: +4.1%), with a growth rate that exceeded the long-term target of mid-single digits.

Asia Pacific grew faster than the strongest quarter last year, with double-digit growth in Professional Solutions, mainly driven by the back-to-school season in China, and revenues from Stellest, the lenses business, doubled again. India, Japan, and South Korea all grew at double-digit rates as well.

On this basis, EssilorLuxottica reconfirms its long-term performance outlook: mid-single-digit annual revenue growth on a constant CER basis and an adjusted operating margin of 19 to 20 percent for the period 2022 to 2026.

| Image Credit:  EssilorLuxottica’s Official Website

| Editor: LeZhi