EssilorLuxottica's 1Q Revenue Rose Boosted by Developing Regions

By Pierre Bertrand

EssilorLuxottica SA said Thursday that its revenue grew in the first quarter boosted by outperformance in developing markets.

The Franco-Italian eyecare company said it achieved 6.15 billion euros ($6.74 billion) in first-quarter revenue, up 9.7% compared with EUR5.61 billion the year-prior.

On a comparable basis quarterly revenue was up 8.6% at constant exchange rates, EssilorLuxottica said.

The company said revenue at its professional solutions segment grew 8.9% to EUR3.02 billion while revenue grew roughly 11% to EUR3.12 billion at its direct to consumer segment.

The company said that its Latin America and Asia Pacific regions grew by double digits at constant exchange rates outpacing growth in North America and in Europe, the Middle East and Africa.

At constant exchange rates, revenues grew 12% in Asia-Pacific and by nearly 12% in Latin America, while revenues grew 7% in North America and 8.9% in the EMEA region.

Analysts had expected EUR5.93 billion in first-quarter revenue, according to an average of analysts polled by FactSet.

Write to Pierre Bertrand at [e-mail]

(END) Dow Jones Newswires

April 20, 2023 12:45 ET (16:45 GMT)

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