New record for Luxottica, which closes 2013 with net revenues over 7,3 billion, up by 7,5% at constant exchange rates and by 3,2% at current exchange rates compared to 2012. Following this result, Mediobanca promoted the shares of the group from neutral to outperform, with a target price rising from 39,6 to 44,5 euros. One hour after the opening, Luxottica's share on the Stock Exchange gained more than four and a half percentage points, achieving the best increase in the Ftse Mib.
“We can state that 2014 will be the continuation of 2013 – he commented Andrea Guerra, CEO of the eyewear giant, in an interview with Repubblica –, with organic revenue growth in the order of 5-10% which will translate into a doubling of the rate of growth in profits. But we continue to be ambitious and in the next three years we aspire to reach 10 billion in turnover".
Geographically, Luxottica's business on emerging markets in 2013 increased by more than 20% at constant exchange rates, "with peaks of excellence in China, Brazil and Turkey". Overall sales in North America grew by 3,5% in dollars, supported in particular by the performance of the Wholesale division. In Europe the increase in turnover is equal to 11% at constant exchange rates.
