(Finance) – EssilorLuxottica closes the first semester with a adjusted net profit of € 1,548 million, up 26% than the pro
form of the first half of 2021.
Solid growth of the revenuedespite a difficult macroeconomic context, with a increase of 7% in the second quarter and 9.1% in the first half year compared to 2021. The EMEA area continues to grow in double digits, while North America sees a deceleration, albeit still in positive territory. GrandVision appears in line with the Group’s results, with comparable store sales + 7% in the second quarter.
Adjusted operating profit reached i 2,202 million euros in the first six months of the year, representing 18.4% of revenues, compared to 17.4% in the first half pro forma 2021, with an increase of approximately 100 basis points (or 80 basis points at constant exchange rates1).
“We close the first half of 2022 in a particularly positive way, with solid growth in all geographic areas and a substantial increase in operating margin. Our performance, in a difficult macroeconomic environment, reflects the strength of the open network business model. the will to explore new horizons in the field of innovation, as well as the skills and energy of our people. This benefits all stakeholders, starting with our customers “, underline Francesco MilleriChairman and Chief Executive Officer, e Paul du SaillantDeputy CEO of EssilorLuxottica.
EssilorLuxottica recorded a solid cash generation, with the free cash flow consolidated which has reached i 906 million euros in the first six months of the year. The Company closed the first half with 3.7 billion euros of cash and cash equivalents it’s a indebtedness net financial of 10.4 billion of Euro (of which Euro 3.2 billion of leasing debts) against a net debt7 of Euro 9.7 billion at the end of December 2021.