Home » Essilux, revenues +3.7% to 25.4 billion. Board of directors confirmed

Essilux, revenues +3.7% to 25.4 billion. Board of directors confirmed

by admin
Essilux, revenues +3.7% to 25.4 billion.  Board of directors confirmed

Listen to the audio version of the article

Accounts growing in terms of turnover and profitability, coupon increasing by 22% and board of directors confirmed. This is the picture that emerged yesterday following the board which examined and approved the data relating to the fourth quarter of EssilorLuxottica’s 2023 financial year.

The Italian-French group closed 2023 with revenue growth of 7.1% at constant exchange rates and +3.7% at current exchange rates on an annual basis to 25.395 billion euros. In terms of margins, in 2023 adjusted operating profit rose by 7.7% at constant exchange rates and 1.5% at current exchange rates to reach 4.178 billion euros, while adjusted group net profit saw a increase of 9.4% at constant exchange rates and 3% at current exchange rates to 2.946 billion euros, “in a year in which inflation affected various cost items and in particular that of labour” we read in the note of the group. Accounting profit rose by 14.3% at constant exchange rates (+6.3% at current exchange rates) to 2.3 billion. In Paris today the stock closed higher, before the release of the data, by 1% at 191 euros per share, bringing the balance of the last year positive by 10%.

«We are proud to share excellent results and another year of revenue growth above 7%, with an acceleration in the fourth quarter and the contribution of all geographical areas. We maintain strong profitability, with a record adjusted group net profit close to 3 billion euros and a free cash flow of 2.4 billion » comment Francesco Milleri, president and CEO, and Paul du Saillant, deputy CEO of EssilorLuxottica, continuing: «It was also a year of important investments, with the consolidation of new product categories, from Stellest in myopia to Ray-Ban Meta in wearable devices, the expansion of the brand portfolio with iconic brands such as Moncler and Jimmy Choo, the integration of artificial intelligence and business intelligence, the expansion of our production network and the strengthening of the retail network globally. All this will contribute to the evolution of our Group and the transformation of the sector in the next decade.”

See also  Other than a spending review: in the last 10 years the intermediate costs of the public administration have increased by 24 billion

Fourth quarter 2023 revenues

Broken down by geographical areas

EssilorLuxottica presentation to analysts

Coupon growth

At the annual meeting to be held on 30 April 2024, the board of directors will propose to shareholders to approve the payment of a dividend of 3.95 euros per share, an increase of 22% on the previous year. Shareholders will be offered the opportunity to receive the dividend in cash or in newly issued shares (scrip dividend). The ex-dividend date will be 6 May 2024 and the dividend will be paid – or the shares issued – starting from 3 June 2024. «Strengthened by these positive results, we are confident that we will continue to grow at this rate to achieve our long-term objectives that we have set ourselves. In light of the excellent results achieved in the last three years, the board of directors unanimously resolved to distribute a dividend of 3.95 euros per share” underline Milleri and du Saillant.

Long-term outlook

«The company confirms its mid-single-digit annual revenue growth target from 2022 to 2026 at constant exchange rates (based on 2021 pro forma revenues4) and expects to achieve an adjusted operating profit of between 19 and 2026. 20% of the turnover by the end of this period” we read in the 2023 budget press release.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy