Picture: Stellest launch in China, Guangzhou Tower
OVERVIEW Q2 & H1 2021
Sharp acceleration of the business, on improved macro- economic environment and more effective execution
Revenue +9.2% in Q2 vs 2019
North America driving the performance
Professional Solutions and Direct to Consumer segments both accelerating
Optical and sun both growing, sun catching up
E-commerceup 66%, at 9% of total business
Operating leverage and cost containment led the adjusted operating margin up to 18.5% in H1
Strong cash generation, at Euro 1.2 billion in H1
New governance at work, speeding up the execution
GrandVision closed, combining the three champions of the industry into a single stronger group
The presentation should be read together with the press release dated 30 July 2021 available at www.essilorluxottica.comunder the
H1 2021 Results Investors tab. All the brands mentioned in this presentation are intended to be trademark protected. All comments are versus Q2 2019 at constant exchange rates, unless otherwise specified.
FINANCIAL HIGHLIGHTS H1 2021
TOTAL REVENUE
EUR 8,768 mln
ADJUSTED OPERATING PROFIT (%)
18.5%
ADJUSTED GROUP NET PROFIT
EUR 1,117 mln
FREE CASH FLOW
EUR 1,211 mln
NET DEBT
EUR 1,945 mln
H1 2021 Results
3
OUTLOOK FY 2021
In the light of H1 results and with the current level of visibility, the Company's outlook for the full year 2021 is upgraded.
EssilorLuxottica now expects:
Revenue to grow around mid-single digit versus 2019 at constant exchange rates.
Adjusted operating profit as a percentage of revenue at constant exchange rate higher than 2019.
This assumes that no further COVID-19 related restrictions will be introduced in the second half of the year.
Such targets refer to the EssilorLuxottica perimeter, excluding GrandVision which will be consolidated from 1 July 2021.
H1 2021 Results
4
INTRODUCING NEW CHANNEL-BASED SEGMENT REPORTING
Supply of eyecare and eyewear
Sales of eyecare and eyewear
products and services
products and services
to third-party professionals
to end consumers
GROUP
PS
DTC
Professional
Direct to
Solutions
@ Consumer
Group wholesale business
Group retail business
(physical stores and e-commerce)
H1 2021 Results
5
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EssilorLuxottica SA published this content on 30 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2021 08:18:08 UTC.
EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Formed in 2018, the company brings together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear, to set new industry standards for vision care and the consumer experience around it. Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux® and Transitions®, and world-class retail brands including Sunglass Hut and LensCrafters are part of the EssilorLuxottica family.
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