EssilorLuxottica Reports Strong 2021 Results Exceeding Guidance
The eyewear company EssilorLuxottica announced robust revenue and profit growth for the fourth quarter and full year 2021, surpassing its earlier guidance.
EssilorLuxottica reported on March 11, 2022, significant revenue and profit growth for the fourth quarter and full year 2021, exceeding the company's own expectations. For the full year 2021, Group revenue increased by 20% compared to 2019 and by 40% compared to 2020, including the results from GrandVision.
In the fourth quarter, revenue grew by 11% compared to 2019, with all regions surpassing pre-pandemic levels. E-commerce sales exceeded 1.5 billion euros in 2021, marking a 62% increase compared to 2019. The company's adjusted operating profit margin stood at 16.1%, with free cash flow reaching 2.8 billion euros.
EssilorLuxottica also outlined its long-term outlook, projecting annual revenue growth of mid-single digits between 2022 and 2026. The company aims to increase its adjusted operating profit margin to 19-20% by 2026.
CEOs Francesco Milleri and Paul du Saillant described 2021 as an extraordinary year, highlighting the company's commitment to sustainability and support for employees during the ongoing situation in Ukraine.