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EssilorLuxottica posts 7.4% revenue growth in FY19

Mar '20
Pic: EssilorLuxottica
Pic: EssilorLuxottica
EssilorLuxottica, a French-Italian vertically integrated multinational corporation, posted 7.4 per cent growth in its revenue to €17,390 million in full fiscal 2019 compared to €16,194 million in prior year. Revenue increased 6.5 per cent in fourth quarter (Q4) ended on December 31, 2019 to €4,304 million compared to €4,040 million in same period prior year.
Gross profit for the year increased 6.6 per cent to €10,887 compared to prior year. Operating profit in FY19 increased 7.4 per cent to €2,812 million. Net profit (attributable to the owners of the parent) increased 9.2 per cent to €1,938 million.
"In its first full year, EssilorLuxottica delivered a solid performance. It advanced on its Mission and delivered innovative products at every price point to customers and consumers worldwide while generating profitable growth," Laurent Vacherot, CEO of Essilor, said in a press release.
Essilor revenue grew 8.5 per cent to €7,897 million compared to €7,280 million in same period prior year. Luxottica revenue increased 6.5 per cent to €9,493 million compared to €8,914 million in same period prior year.
North America registered 8.5 per cent rise in revenue in FY19 to €9,154 million. Europe's revenue increased 4.9 per cent to €4,236 million in the year. Asia, Oceania and Africa's revenue increased 7.4 per cent to €2,892 million. Latin America's revenue increased 7.7 per cent to €1,108 million. 
In its outlook for FY20, EssilorLuxottica expects 3.5 to 5 per cent increase in revenue growth, as company reported.

Fibre2Fashion News Desk (JL)

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