The lens manufacturer and the optical group sealed their merger in October 2018. The company expects to grow 5% annualy until 2023.
EssilorLuxottica continues its integration. The lens manufacturer and the optical group, which sealed their merger in October 2018, hosted its 2019 Capital Markets Day in London, presenting its strategic vision, integration progress and long-term financial guidelines.
The group expects to grow 5% per year until 2023 thanks to an open business model where eyecare and eyewear products are accessible to everyone, everywhere. The operating profit, on the other hand, will grow at a rate of between 1 and 1.4 times the increase registered by sales, while for the net result an advance of between 1 and 1.5 times the revenue is expected.
The company also emphasizes that the first part of its integration has been creating a single value chain and prescription laboratories, integrating the Costa brand in the Luxottica portfolio and a single IT platform, which has begun to be tested with a pilot project in Italy.
EssilorLuxottica expects to grow 5% per year until 2023
The impact of the merge between the two in the operating profit will be between 300 million and 350 million euros between 2019 and 2021 and up to 420 million and 600 million euros in 2022 and 2023.
The optics giant concluded its first fiscal year with sales of 4.2 billion euros boosted by the divisions of lenses and optical instruments and its retail network. A year ago, the sum of the income of both companies (excluding the business they did between the two) arrived at 3.9 billion euros.