Luxottica closed the first quarter with net profits up 10,5%, to 159 million euros. As for turnover, the Italian eyewear giant collected 1,86 billion, a result up 4,2% on an annual basis (+5,6% at constant exchange rates). EBIT, on the other hand, amounted to 275 million (+7,7% compared to 255 million adjusted in the same period of 2012).
“This first quarter marks a strong and solid start to the year, supported by all of our core brands in all of the geographies that matter most to us. The positive results of the first three months of 2013 confirm our expectations for the period and support our path towards another year of growth – said the managing director, Andrea Guerra -. Looking to the coming months, we will continue to invest for our growth. Emerging markets in particular will be one of the main drivers of development, supported by constant investments in people and brands, and by the expansion of Retail through acquisitions and better penetration in already established channels, above all in Southeast Asia and Latin America".
In emerging countries, the group achieved growth in net sales close to 20%. Brazil, which achieved an increase of 30% at constant exchange rates, benefited in particular from the integration with Tecnol. “North America, our most important region, is registering a new period of sustained growth, after a bit of nervousness in February and a slight acceleration in March and April – said Guerra -. In Europe we travel at three different speeds: in Eastern countries we are very fast; in continental Europe the results, exceeding our expectations, fully satisfy us; Mediterranean Europe is going through a difficult moment, but in Italy we are holding on thanks to the investments made”.
Net debt at March 31, 2013 amounted to 1.816 million euros (1.662 million at December 31, 2012). During the first quarter of 2013, the group invested 138 million in acquisitions.
By mid-morning, Luxottica's stock yielded more than two points to Piazza Affari, the worst fall of the Ftse Mib.
