Essilor shares rose last week when CEO Xavier Fontanet said it was considering a bid for Germany's Rodenstock, up for sale by its majority stakeholder Permira (News, August 18).
A report on AFX News said that the move for the well-respected lens maker would open the door for Essilor to markets in Germany and Latin America.
Véronique Gillet, VP, Investor Relations Essilor International told Optician that as an ophthalmic industry leader it felt it was its duty to consider the matter. Essilor would need to review Rodenstock's products and services portfolio in detail as well as their market positions before making other comments.
Essilor announced first-half revenues up by 8.7 per cent like for like, stating that organic growth was led by strong sales in North America, Europe and Asia. There was sustained demand for value-added lenses and new products such as Varilux Physio, its mass-market progressive introduced worldwide earlier this year. There were also strong results for instruments.
In the first six months, Essilor purchased 19 companies, mainly Rx houses, in North America, the Asia-Pacific region, India and Europe, making €63m in extra revenue for an investment of €44m. Its net profit went up 12.6 per cent to €164.1m, including the contribution of associates which rose 38.9 per cent to €16.1m and included a very strong performance from Transitions lenses.