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Essilor reports resilient performance first half of 2017
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Essilor consolidated revenue amounted to about $4.59 million in the first 6 months of 2017, an increase of 6.9% at constant exchange rates and 2.5% in like-for-like terms, the company reported.
“The first half of the year marks another step forward in our mission to eradicate poor vision around the globe,” Hubert Sagnières, chairman and chief executive officer of Essilor, said in a press release.
Adjusted earnings per share grew by 2.7%, free cash flow advanced 34% as reported, and 13% excluding exceptional charges.
Resilient performance was noted in Europe by the recent Eye Protect System and Varilux X series launches, an expansion of sales in fast-growing markets dampened by a decline in Brazil and a 14% increase in online sales.
“The vast unmet need for vision correction and protection translate to exciting mid- to long-term opportunities, despite a more challenging near-term market environment linked to the announcement of Essilor’s pending combination with Luxottica,” Sagnières said.
For the remainder of the year, the company expects growth from the deployment of innovation along with continuous development across its businesses.
The company now anticipates full-year revenue growth of between 6% and 7% in constant currency terms, including about 3% on a like-for-like basis.