EssilorLuxottica Reports 9.2% Revenue Growth, Plans 19-20% Profitability by 2026

EssilorLuxottica, the leading eyewear manufacturer, reported a strong financial performance for the fiscal year 2024, with total revenues of €26.5 billion, slightly exceeding analyst forecasts. The company achieved a 9.2% revenue growth in the fourth quarter, driven by successful sales in North America and China, and an adjusted operating profit rose 9.4% to €4.4 billion. Despite a net profit increase to €2.36 billion, it fell short of analysts' expectations of €2.50 billion. EssilorLuxottica is optimistic about future growth, targeting revenues between €27 and €28 billion by 2026 and aiming for an adjusted operating profit margin of 19-20%. The company has successfully sold two million units of its Ray-Ban Meta smart glasses, reflecting its push into the smart eyewear market. Management highlighted their ongoing expansion into medical and high-tech sectors as part of their growth strategy.