EssilorLuxottica : Recovery showing resilience, investment case strengthened
>The recovery in revenues and the margin was confirmed in Q4 despite the obstacles, we adjust our 2020 estimates by +2% - Our forecasts for sales in Q4 2020 were clearly cautious (growth of -4% at constant currencies after -1% in Q3) and sector publications (cf. table below) ahead of EL’s release (scheduled for le 12 March) suggested that Q4 was fairly decent in the optics sector despite the constraints due to the pandemic crisis. As a result, as we understand it EL’s...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).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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