EssilorLuxottica Reports Revenue Growth in Third Quarter 2019
EssilorLuxottica announced consolidated revenue of Euro 13,086 million for the first nine months of 2019, a 7.7% year-on-year increase.
EssilorLuxottica reported consolidated revenue of Euro 13,086 million for the first nine months of 2019. This represents a 7.7% increase compared to the pro forma revenue of the first nine months of 2018. At constant exchange rates, the growth was 4.3%.
The third quarter saw revenue growth of 8.4%, or 5.2% when adjusted for currency fluctuations. The company noted improved momentum in key markets including the USA, Europe, and Mainland China. Sales in fast-growing markets increased by approximately 10% at constant exchange rates.
According to the company, the acceleration in revenue was driven by the Lenses & Optical Instruments division, Retail, and e-commerce. Co-CEOs Francesco Milleri and Laurent Vacherot stated that the performance validates the company's growth strategy, product innovation, digitalization efforts, and investments in emerging markets.
The company reaffirmed its commitment to transforming the optical industry and addressing poor vision globally. EssilorLuxottica held a conference call on October 30, 2019, to discuss its financial results.