EssilorLuxottica Is Upbeat on 2022 Performance After 1Q Sales Growth
22 Aprile 2022 - 1:25PM
Dow Jones News
By Alice Dore and Joshua Kirby
EssilorLuxottica SA is optimistic about its growth prospects
this year, Chief Financial Officer Stefano Grassi said Friday.
The Franco-Italian eyewear group expects revenue growth and
expansion in its operating margin for the full year, Mr. Grassi
said in a conference call following the company's first-quarter
revenue update.
At 2021 results last month, EssilorLuxottica confirmed it was
targeting revenue growth in the mid-single digits between 2022 and
2026, and said it is also aiming for an operating margin of 19%-20%
by the end of the same period.
This year, pandemic-related restrictions in China will affect
sales mostly in the month of April, while the impact of inflation
will be more accentuated in the second and third quarters than in
the first, but should normalize by the end of the year, Mr. Grassi
said.
In the first quarter, the group's revenue rose 12% on a
comparable and organic basis to 5.61 billion euros ($6.08 billion).
The company pointed to strong performance in North America as one
of the main growth drivers.
This story was translated in whole or in part from a
French-language version initially published by L'Agefi-Dow
Jones.
Write to Alice Dore at adore@agefi.fr and to Joshua Kirby at
joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
April 22, 2022 07:10 ET (11:10 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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