Paris, France (October 17, 2024 - 6:00 pm) – EssilorLuxottica announced today that consolidated revenue for the third quarter of 2024 reached Euro 6,437 million, representing a year-on-year increase of 4.0% at constant exchange rates1 compared to the third quarter of 2023 (+2.3% at current exchange rates).
Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica commented: "In the third quarter, we maintained solid momentum, with all regions and businesses contributing to steady growth, fueled by our commitment to innovation and excellence.
We solidified our positioning in the med-tech space, while preparing for the acceleration of the business in the near future, with our myopia management offering and smart glasses roll-out, Nuance Audio launch, Heidelberg Engineering and Supreme additions to the Group's portfolio. The long-term partnership between EssilorLuxottica and Meta continues to write the bold story of smart glasses as the disruptive category in digital eyewear.
Welcoming 1,000 new talented colleagues from the acquired companies strengthens our collective expertise. We're also proud to be once again recognized as one of the top-50 companies on Fortune's 'Change the World' list.
As we enter the fourth quarter with confidence, we remain on track with our long-term targets and continue driving meaningful transformation for the years to come."
Notes
As table totals are based on unrounded figures, there may be discrepancies between these totals and the sum of their rounded component.
1 Constant exchange rates: figures at constant exchange rates have been calculated using the average exchange rates in effect for the corresponding period in the relevant comparative year.
2 Comparable-store sales: reflect, for comparison purposes, the change in sales from one period to another by taking into account in the more recent period only those stores already open during the comparable prior period. For each geographic area, the calculation applies the average exchange rate of the prior period to both periods.
3 Comparable or pro forma (revenue): comparable revenue includes the contribution of GrandVision's revenue to EssilorLuxottica as if the combination between EssilorLuxottica and GrandVision (the "GV Acquisition"), as well as the disposals of businesses required by antitrust authorities in the context of the GV Acquisition, had occurred at the beginning of the year (i.e. January 1). Comparable revenue has been prepared for illustrative purpose only with the aim to provide meaningful comparable information.
4 Adjusted measures or figures: adjusted from the expenses or income related to the combination of Essilor and Luxottica (the "EL Combination"), the acquisition of GrandVision (the "GV Acquisition"), other strategic and material acquisitions, and other transactions that are unusual, infrequent or unrelated to the normal course of business as the impact of these events might affect the understanding of the Group's performance. A description of those other transactions that are unusual, infrequent or unrelated to the normal course of business is provided in the half-year and year-end disclosure (see dedicated paragraph Adjusted measures).
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