MILAN, July 26 (Class Editori) — Essilux reported an 8.2% increase in revenue at constant exchange rates, totaling 12.8 billion euros for the first half of the year, with a net income of 1.6 billion euros (+9%). The positive momentum is expected to continue in the second half with a few strategic launches, such as new features for Ray-Ban Stories in partnership with Meta and the entry into the hearing aid market with innovative technology. In fact, the Group has a dedicated team for "Super Audio", in-house R&D resources, and has recently acquired the Israeli start-up Nuance to launch revolutionary technology that will benefit the 1.25 billion consumers worldwide with mild to moderate hearing disorders. The integrated frame, with proprietary technology, will be distributed in 150 countries from mid-2024 and will simultaneously correct hearing and vision defects.
"At the halfway point of 2023, we are proud of our performance, including strong top line growth and our ability to keep the pace on margins, both on track with our long-term outlook," Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica, said. "Our innovation pipeline continues to run deep. In the past six months, we introduced Varilux XR lenses powered by AI, launched a design disruption with Ray-Ban Reverse and rolled out Stellest in additional markets. We have also delivered novelties at the heart of our house and licensed brands".
The second quarter confirmed a similar pace of revenue growth to that of the first quarter, reaching 6.7 billion (+8% versus +8.6%). This was a result of strong performance across all operating segments, geographies, categories, channels, and price ranges. The only exception was the Sun retail in the US, which experienced a decline in demand and recorded negative performance. Overall, North America remained positive, experiencing a growth of 2.3% at constant exchange rates. However, this growth rate is lower than that of the first quarter. In contrast, the EMEA region saw a further momentum, reaching 10.6% growth at constant exchange rates. Asia-Pacific experienced the highest growth in the quarter, with a rate of 23.9% at constant exchange rates. This was due to the recovery of business in China, driven by Stellest. Finally, Latin America achieved a growth rate of 9.3%.
"We are on track to be carbon neutral in Europe in 2023," Milleri and du Saillant concluded. Italy and France achieved carbon neutrality at the end of 2021. (All rights reserved)
(Source:Class Editori)
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