EssilorLuxottica: Q2/H1 2023 Results - Strong sales growth, solid margins confirmed

Q2/H1 2023 RESULTS

Strong sales growth, solid margins confirmed

All regions and segments growing

On track with carbon neutrality in Europe by end of 2023

• Group’s revenue up 8.0% in Q2 and 8.2% in H1 at constant exchange rates¹
• EMEA double-digit up in Q2, China rebounding strongly, North America positive
• Retail in EMEA as a key driver, with the integration accelerating
• Stellest more than doubling in H1, Varilux XR successfully launched and Ray-Ban Reverse delivering disruptive design and technology
• Adjusted² operating profits margin at 18.5% at constant exchange rates¹, +10bps vs H1 2022
• Free cash flow⁵ at Euro 954 million in H1

Charenton-le-Pont, France (July 25, 2023 - 6:00 pm) – The Board of Directors of EssilorLuxottica met on July 25, 2023 to approve the condensed consolidated interim financial statements for the six months ended June 30, 2023. The Statutory Auditors have performed a limited review of these financial statements. Their report is in the process of being issued.

Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica commented: "At the halfway point of 2023, we are proud of our performance, including strong top line growth and our ability to keep the pace on margins, both on track with our long-term outlook. Our innovation pipeline continues to run deep – in the past six months, we introduced Varilux XR lenses powered by AI, launched a design disruption with Ray-Ban Reverse and rolled out Stellest in additional markets. We have also delivered novelties at the heart of our house and licensed brands. The back half of the year will be very dynamic, as we further expand our Ray-Ban Stories in partnership with Meta with more functionalities and we prepare to step into the hearing solutions market with a groundbreaking technology. At the same time, we are on track to be carbon neutral in Europe in 2023. Our investment in talent and know-how continues to fuel all of our projects as we advance on embracing our common culture. Today, our skilled teams are operating in lock step to achieve our goals and giving us a solid foundation to continue building EssilorLuxottica successfully.”

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