ESSILORLUXOTTICA: In-line Q1 sales performance and FY21 outlook slightly adjusted upwards | NEUTRAL | EUR128(-7%)
ESSILORLUXOTTICA - NEUTRAL | EUR128(-7%)In-line Q1 sales performance and FY21 outlook slightly adjusted upwards
Q1 sales rebound in line with CS forecasts
New initiatives are driving the sales rebound
The US remains the main growth engine
FY21 outlook a touch more optimistic
Essilor International (Compagnie Generale d'Optique) designs, manufactures and sells ophthalmic lenses, ophthalmic optical instruments and equipment. Co.'s activities are divided into three segments: Lenses and Optical Instruments (Co. designs, manufactures and customizes corrective lenses such as: Varilux (progressive lenses); anti-reflective, smudge-proof and anti-static lenses (Crizal); Nikon lenses, Transitions variable-tint lenses and Kodak lenses under agreements; polarized lenses (Xperio) and fog-proof lenses (Optifog)), Equipment (Co. produces, distributes and sells equipment and consumables used by prescription laboratories) and Readers (Co. designs and sells reading glasses).
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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