EssilorLuxottica announced that consolidated revenue for the first quarter of 2019 totaled Euro 4,210 million, representing a year-on-year increase of 7.5% compared to Q1 2018. The company states it remains steadfast in its financial objections for 2019, projecting a sales growth of 3.5%-5% as it activates its synergies of two optical giants.
In its financial statement released today, EssilorLuxottica states that over the next few quarters, it expects to benefit from “its robust innovation pipeline, sound organic growth, the initial benefits of synergy work streams and the progressive ramp up of bolt-on acquisitions.”
Every division contributed to the Q1 growth, headed by Essilor’s Lenses & Optical Instruments (+7.8%) and Luxottica’s Retail (+10.7%), as well as every region, with the largest gains in North America (+9.1%), Asia-Oceania-Africa (+8.0%) and Latin America (+8.1%).
To read the full financial report, click here.
“I am very satisfied with the results of the first quarter of EssilorLuxottica, with all its business areas growing. Luxottica contributed with an excellent performance that recorded accelerating sales, confirming the power of the strategic choices and the commercial policies undertaken," commented Leonardo Del Vecchio, executive chairman of EssilorLuxottica.
“2019 is off to a good start and Essilor’s contribution has been robust in terms of business, new product developments and acquisitions, as well as in the ramp-up of the first synergy work streams with Luxottica. Joint integration work is now solidly underway in many key areas such as the complete pair, leveraging the company’s own retail, cross-selling in wholesale, optimizing the supply chain, enhancing efficiency, and growing the market,” said Hubert Sagnières, executive vice chairman of EssilorLuxottica.