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Essilor : 2009 First Quarter Report
Date:4/22/2009

CHARENTON-LE-PONT, France, April 23 /PRNewswire-FirstCall/ --

- Strong 10.3% Growth in First-Quarter Revenue

Essilor International, the world leader in ophthalmic optics, today announced consolidated revenue of EUR840.4 million for the three months ended March 31, 2009, representing a reported 10.3% increase on the first quarter of 2008. Excluding the currency effect, growth was 5.4% for the period.

Despite contracting demand early in the year, revenue was down just 1% like-for-like. This was primarily due to the instruments business, with lens revenue stable for the period. Eyecare professionals responded very favorably to the launch of new products, including Crizal(R) Forte (New Crizal Avance(TM) with Scotchgard(TM) Protector in the United States) and Transitions(R) VI in Europe.

Changes in the scope of consolidation added 6.4% to growth for the quarter, with half of the impact coming from the consolidation of Satisloh and half from the other acquisitions made in 2008.

The 4.9% positive currency effect primarily reflected the appreciation of the US dollar, and to a lesser extent the yen, against the euro. On the downside, reported revenue was reduced by the weakness in the British pound, Australian dollar, Korean won and Brazilian real over the period.

    Consolidated revenue - first quarter 2009

    EUR millions     1st     1st quarter % change   % change    Contribution
                   quarter                       (like-for-like)     from
                     2009       2008        as                  acquisitions
                                         reported
    Total           840.4       762.2     +10.3%       -1.0%         +6.4%*
    Europe          330.8       346.4      -4.5%       -4.4%         +1.9%
    North America   375.9       318.3     +18.1%       -1.9%         +5.2%
    Asia-Pacific     81.5        69.2     +17.8%      +15.
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SOURCE  Essilor
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