Essilor reported a marginal like-for-like fall of 0.7 per cent in half-year revenue for the period ended June 30, in comparison to the same period in 2008. Revenue for the first six months of year totalled €1,663.4m.
The French manufacturer claimed it had relied heavily on new product launches to sustain lens sales in what it referred to as a 'generally sluggish ophthalmic market'.
Essilor's European consolidated revenue for the first half of 2009 fell 4.4 per cent on a like-for-like basis to €665.1m from €693.5m for the same period in 2008. Second quarter revenue fell to €335m from €348.8m for the second quarter of 2008, a like-for-like decrease of 4.6 per cent.
An improved performance in the second quarter was attributed to the successful launches of value-added products such as the new Crizal Forte anti-reflective coating and the Transitions VI lens in Europe. Other factors were firm growth in entry level products and a disappointing first-quarter performance in instrument sales.
The company reported that growth in Europe was adversely affected by the highly unfavourable economy, especially in the UK, Spain and the Netherlands, although it claimed Germany and France demonstrated firmer resistance.
Like-for-like figures excluded the contribution from acquisitions. Essilor has made 14 acquisitions since the start of the year, which it said would bring in around €64m in full year revenue.