Third-Quarter 2019 Revenue Momentum Continues to Build
Wednesday, November 6 2019 | 15 h 40 min | Financial News, Press Release
EssilorLuxottica announced that consolidated revenue for the first nine months of 2019 amounted to € 13,086 million, representing a year-on-year increase of 7.7% compared to the 2018 first nine months revenue.
“The continuous improvement in our performance validates our growth strategy as well as our investments in product innovation, digitalization, fast-growing markets and talent. This acceleration further demonstrates our ability to execute the business plan and deliver sales and cost synergies”, said Francesco Milleri and Laurent Vacherot. “On this basis we will confirm our efforts to transform the industry and eliminate poor vision throughout the world.”
Essilor led this performance with sales growth of 8.9% on a reported basis and of 5.9% at constant exchange rates.
Fast-growing markets led growth, with a sales increase around 10%. The direct online channel, which represented around 5% of consolidated sales, was also a meaningful contributor led by double-digit growth on Ray-Ban.com, Oakley.com, SunglassHut.com and in Essilor’s prescription eyeglasses offers.
Lenses & Optical Instrumentssales were up 9.9% to €1,713 million. This performance was driven by new products, online sales and fast-growing markets4. The successful launch of Transitions® Signature® GEN 8TM in the United States supported the improved growth rate.
In North Americarevenue grew by 8.9% to €2,298 million in the third quarter.
Essilor sales benefited from the launch of Transitions® Signature® GEN 8TM, which yielded a step change in growth for Transitions® lenses, notably with Independent Eyecare Professionals as well as through the company’s retail channels.
Equipment and Sunglasses & Readers contributed to growth during the quarter while performance in Canada weighed slightly on regional performance. E-commerce sales were particularly strong during the quarter, with a noteworthy performance from EyeBuyDirect.
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