Luxottica closed the first quarter with a Net income of 157 million (-1,2% on an annual basis) and a turnover grew by 4,2% at constant exchange rates to 1,84 billion (-1,2% at current exchange rates). Operating profit fell 1,7% to $270 million. The company notes for the start of the second quarter an "excellent start to the crucial sunny season with a solid and growing order book".
“Looking forward to the coming months, we enter the key season of sunshine with confidence and optimism. The order backlog is very positive and double-digit growth compared to last year – commented the CEO of Luxottica, Andrea Guerra -. We started the year with great energy, inaugurating a new course in the history of Luxottica dedicated to technological and digital innovation".
The manager closely referred to the acquisition of glasses.com, the new licensing agreement with Michael Kors and the strategic collaboration that the Italian company has established with Google: "We are satisfied with the results obtained and determined to achieve another year of solid growth in turnover and profitability”.
In the first quarter of the current year, the group generated positive cash flow of 60 million euro, the best result in the last four years. Thanks to this performance, net debt fell to 1,43 billion (1,46 billion at the end of December).
