Essilor Luxottica closed 2022 with revenues, operating income and net income at record levels il which allowed the company to propose a dividend increased by a third compared to the previous year. The Italian-French multinational active in the eyewear field has closed its 2022 accounts with record growth of turnover to 24,5 billion euros, up 7,5% at constant exchange rates or 13,9% at current exchange rates, compared to pro forma 2021. TheNet income Adjusted group revenue rose 15,4% at constant exchange rates to $2,86 billion after operating profit of $4,115 billion, it said in a statement, representing 11,7% of revenue.
Record accounts: the dividend rises to 3,23 euros per share
“EssilorLuxottica saw another year of revenue growth and margin expansion in 2022, thanks to the effective execution of its strategic vision and integration journey, in line with its long-term financial roadmap,” explains the report of group budget. The distribution of one will be proposed to the shareholders' meeting dividend equal to € 3,23 per share, up 29% compared to 2021. The group's note recalls that 'due to the structure of the 2021 consolidated financial statements, which includes the results of GrandVision as well as the effects deriving from the recognition of the acquisition only for the second half of the year, management has deemed it relevant to present the company's performance in 2022 compared to the 2021 pro forma information. Furthermore, to allow comparability with the long-term outlook, the group presents adjusted measures'. Comparable store sales are up 7,7% in 2022, with ex-GrandVision stores outperforming at +9,3%.
Fourth quarter still growing at a rapid pace
Just in fourth quarter, turnover increased by 3,9% at constant exchange rates, "with a still strong pace albeit slower than in the other quarters of the year, mainly due to the difficult basis for comparison with what had been the best quarter of 2021", specify the note. Also in the fourth quarter, EMEA was the geographical area with the best performance, with growth of 6,2% at constant exchange rates, thanks to the good results of France, Italy, Spain, the United Kingdom and the Scandinavian countries. In North America, revenues increased by 2,7% at constant exchange rates. Revenues in Asia-Pacific and Latin America increased by 3,1% and by 0,6% at constant exchange rates.
New licensing agreement with the Americans of Target
Just this week EssilorLuxottica, announced the renewal of thethe license agreement with Target, US giant in the retail sector with over 2.000 stores in the United States and with Target.com, for the operational management of Target Optical within Target stores. The multi-year agreement is effective February 12, 2023. Target Optical, a leading optical retail brand in the United States, provides a full range of vision care services to more than 1,5 million consumers each year. Target Optical now has more than 560 stores in the United States, in addition to the e-commerce offer.
