Luxottica opens in the red at Piazza Affari in the wake of the half-yearly data of Essilor, the French multinational of lenses with which a maxi merger was announced last January. The share of the Milanese company loses the 2,86%.
Essilor reported a net profit down 6% to 391 million. Adjusted EBIT is around 18,5%, while the new guidance is around 3-4% below consensus estimates.
The revision of the guidance could derive from the weaknesses identified by Essilor in Brazil and from a competitive context indicated as more challenging after the announcement of the merger with Luxottica. The closing of the operation is announced around the end of the year.
The CEO of Essilor Hubert Sagnières he underlined that “the market context is more tense” after the announcement of the mega-merger. In return, the turnover grew by 9,1% to 3,9 billion driven by favorable foreign exchange effects and recent acquisitions.
