EssilorLuxottica: first combined results down
(CercleFinance.com) - Formally created on 1 October 2018, the global optical giant EssilorLuxottica has presented its first combined accounts.
Targeted synergies have been confirmed, although it will be necessary to wait until September for the group to organise a day for investors. The share is currently the sharpest faller in the CAC 40 this morning, down 4%.
In 2018, adjusted pro-forma sales reached 16.2 billion euros, down 1.2% as reported, due to the weight of the dollar for this group which is highly exposed to North America. However, at constant exchange rates, the group reported an increase of 3.2%.
In 2019, EssilorLuxottica anticipates sales growth of 3.5% to 5%, with growth in adjusted operating profit set to be 0.8 to 1.2 times its sales growth, a ratio that would be 1 to 1.5 times for adjusted earnings.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Targeted synergies have been confirmed, although it will be necessary to wait until September for the group to organise a day for investors. The share is currently the sharpest faller in the CAC 40 this morning, down 4%.
In 2018, adjusted pro-forma sales reached 16.2 billion euros, down 1.2% as reported, due to the weight of the dollar for this group which is highly exposed to North America. However, at constant exchange rates, the group reported an increase of 3.2%.
In 2019, EssilorLuxottica anticipates sales growth of 3.5% to 5%, with growth in adjusted operating profit set to be 0.8 to 1.2 times its sales growth, a ratio that would be 1 to 1.5 times for adjusted earnings.
Copyright (c) 2019 CercleFinance.com. All rights reserved.