EssilorLuxottica : Half-yearly figures in line, margin improvement hurt by forex effects
>Growth still above 5% for revenues in Q2, gain of +50bp in EBIT margin in H1 at cc, with the mix effect driving gross margin expansion - For H1 2024, the company posted revenues of € 13.29bn with recurrent EBIT of € 2.431bn, vs our estimates of respectively € 13.285bn and € 2.511bn, while the recent consensus consulted showed virtually equivalent revenues at € 13.34bn but a much more conservative EBIT forecast compared to ours of € 2.42bn. The reported figures are br...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).
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