Essilor improves margins in first six months

Essilor reported revenue of €2,780m for the first six months of 2014, an increase of 7.9 per cent as reported and 9.4 per cent like for like including bolt-on acquisitions.

Improved margins were noted, with adjusted contributions from operations at a record 18.9 per cent of revenue at €526m.

Overall like-for-like growth was 3 per cent, while the lenses and optical instruments division delivered like-for-like growth of 3.6 per cent. Markets in Southern Europe and Eastern Europe rebounded and the company also performed well in the UK and Russia. Crizal, Varilux S series, Transitions Signature and Xperio lenses were all highlighted.

Chairman and CEO Hubert Sagnières said: ‘The group’s results reflect major progress in its mission to deliver better visual health to as many people as possible. Our focus on innovation combined with assertive consumer communication campaigns and new operational organisation have started to pay off with independent eye care professionals and key accounts. At the same time, the group has boosted its presence in three fast-growing optical segments – the photochromic lenses, sun and online businesses – while delivering improvement in its operating margin.’