EssilorLuxottica reported strong increases in revenue and profit last half, with revenue from its Ray-Ban Meta smart glasses more than tripling.
Adjusted revenue last half was EU€14.02 billion, up 7.3% year-over-year at constant exchange rates, but below Visible Alpha estimates of €14.07 billion. Gross profit was €8.90 billion, rising 6.1%.
“With a strong first half, including top-line growth and momentum across all regions and businesses, we are keeping pace with our growth targets despite a volatile environment,” said EssilorLuxottica CEO Francesco Milleri and deputy CEO Paul du Saillant.
“We are leading the transformation of glasses as the next computing platform, one where AI, sensory tech and a data-rich healthcare infrastructure will converge to empower humans and unlock our full potential. The success of Ray-Ban Meta, the launch of Oakley Meta Performance AI glasses and the positive response to Nuance Audio are major milestones for us in this new frontier.”
Diluted earnings per share were EU€3.00 last half, up slightly from H1 2024’s €2.98.
EssilorLuxottica reports year-over-year revenue growth across all segments and markets, at constant exchange rates. Its Direct to Consumer segment saw a 10.2% increase in revenue to EU€7.46 billion, while its Professional Solutions segment’s revenue grew by 4.2% to €6.57 billion.
Europe, the Middle East, and Africa regions saw the greatest revenue increase at 9.5%, reaching EU€5.40 billion. North America, the largest region by revenue, grew 4.9% to €6.18 billion.
Its Ray-Ban Meta AI-powered smart glasses more than tripled in revenue year-over-year, the company said. Meta’s new Oakley AI glasses, targeted at athletes, are set to launch later in the Northern Hemisphere summer period.
The company renewed its smart glasses partnership with Meta in September.
EssilorLuxottica agreed to purchase the ophthalmology clinic network Optegra in May, which operates more than 70 eye hospitals and diagnostic facilities in Europe. It also said this week it would acquire PUcore’s ophthalmic lens materials division.
Its full-year guidance projects mid-single-digit annual revenue growth, with an expected range of EU€27-28 billion in 2025.
EssilorLuxottica’s (EPA: EL) share price closed at EU€246.20, down from its previous close of €249.70. Its market capitalisation is €116.1 billion.
