EssilorLuxottica : Modest downgrade to our margin scenario but increased confidence in the growth profile
>Growth set to remain robust in Q4, but H2 EBIT margin likely to suffer from FX and cost inflation, hence a possible decline in the reported full-year margin - We have no reason to think that business fundamentally changed for the group in the US and in Europe in Q4 relative to Q3 – sunglasses in the US still struggling but optical showing steadier growth, Europe showing good trends on the whole with the GrandVision network still dynamic – while the year-on-year base...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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