EssilorLuxottica revenue rises over 9% in Q4, reaffirms outlook
Investing.com -- EssilorLuxottica reported a 9.2% year-on-year increase in revenue for the fourth quarter of 2024 at constant exchange rates, reaching €6.78 billion.
The company also revealed that full-year revenue rose by 6% to €26.51 billion, marking the company’s fourth consecutive year of growth above 5%.
The North American market saw acceleration in the quarter, growing 7.8%, while EMEA expanded by 9.6%. Asia-Pacific led regional performance with a 14% increase, while Latin America grew by 8.7%.
EssilorLuxottica said its Direct-to-Consumer segment outperformed with a 12.7% increase, compared to a 5.5% rise in Professional Solutions.
EssilorLuxottica's smartglasses business, particularly its partnership with Meta (NASDAQ: META ), contributed to growth, with Ray-Ban Meta sales reaching two million units since launch.
The company also launched Nuance Audio, a new smart eyewear category targeting individuals with mild to moderate hearing loss.
EssilorLuxottica improved profitability despite inflationary pressures, with an adjusted operating margin of 17% at constant exchange rates, up 50 basis points from 2023. Adjusted operating profit rose 9.4% to €4.41 billion, while adjusted group net profit increased by 9.8% to €3.12 billion.
Looking ahead, EssilorLuxottica reaffirmed its long-term target of mid-single-digit annual revenue growth through 2026, aiming for revenues of €27-28 billion and an adjusted operating margin of 19-20%.
The company proposed a dividend of €3.95 per share, with a scrip dividend option, subject to shareholder approval in April.