Asia-Pacific was again one of the strongest performers as EssilorLuxottica posted a net profit of €1.746 billion (AU$2.89b) for the first half of the year.
That result for the world’s largest optical group was fuelled by a 5.3% rise in revenue for the first six months of 2024 to €13.3 billion (AU$21.9 b) compared with the same period in 2023.
The group also released its Q2 figures, reporting a 5.2% rise in revenue to €6.955b (AU$11.50b).
The company board met in Paris on 25 July, 2024 to approve the financial statements for the six months ended June 30, 2024, which included a 9% rise in Asia-Pacific half-year revenue of €1.589b (AU$2.63b) at constant exchange rates.
That was on the back of a 9.8% spike in Q2 earnings of €821m (AU$1.358b).
All regions posted high-single digit rises in both the H1 and Q2 results, with the exception of North America, whose half-year sales were up just 1.5% and 1.4%, respectively.
The report to the directors said the Professional Solutions unit – which supplies products and services to Australian independents – and the Direct to Consumer business – incorporating shopfronts like OPSM and Sunglass Hut – “equally contributed to the solid sales performance” in Asia-Pacific, with “Stellest and the myopia management portfolio being the major driver”, especially in China.
It said both OPSM and Sunglass Hut improved performance in Australia in the quarter, which helped the region to positive growth in the period.
Mr Francesco Milleri, chairman and CEO, and Mr Paul du Saillant, deputy CEO at EssilorLuxottica, said: “In the first half of the year, EssilorLuxottica’s strategy continued to pay off with all regions and businesses contributing to positive results.
“With top line growth, margin expansion and record cash flow, the last six months further solidified our long-term outlook, made possible thanks to the unique talent and engagement of our 200,000 colleagues worldwide.”
They said that the company’s commitment to “the two strategic pillars of med-tech and smart eyewear is taking shape, with Stellest seeing exponential growth, the success of Ray-Ban Meta and Nuance Audio set to establish a new category in the market”.
“With new collections coming from all our house and licensed brands, including our first ever for Moncler, and the announced acquisition of Supreme, we are exactly what we need to be: a tech-driven and brand-rich company caring for and connecting with hundreds of millions of people globally,” Milleri and Saillant said.
In July, EssilorLuxottica also announced a major deal with Heidelberg Engineering to acquire an 80% stake. The Germany-based company is best known for its OCT machines, specialising in diagnostic solutions, digital surgical technologies and healthcare IT for clinical ophthalmology.
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