- Strong Growth in First-Half Revenue, up 9.4% - Operating Margin Holds Firm
Essilor International, the world leader in ophthalmic optics, today announced consolidated revenue of an estimated EUR1,663.4 million for the six months ended June 30, 2009, representing a reported 9.4% increase on first-half 2008. Like-for-like, revenue was down a slight 0.7% for the period, but was up 5.3% excluding the currency effect alone.
In a generally sluggish ophthalmic optics market, Essilor primarily relied on new product launches to sustain its lens sales. Market share increased worldwide, led by the Company's extensive product portfolio, strong distribution networks and targeted acquisitions dynamic.
In light of these factors, Essilor is confident in its ability to maintain first-half 2009 operating margin on a par with full-year 2008.
Consolidated revenue for the first six months of 2009 EUR millions H1 2009 H1 2008 % Change % Change Contribution (reported*) (like-for-like) from acquisitions Total 1,663.4 1,520.2 +9.4% -0.7% +6.0% Europe 665.1 693.5 -4.1% -4.4% +2.0% North America 718.1 617.9 +16.2% -0.9% +4.3% Asia-Pacific 170.1 146.8 +15.9% +13.5% +1.3% Latin America 60.3 60.6 -0.5% +9.4% +0.7% Laboratory 49.8** 1.4*** N/M N/M N/M equipment (1) (*) Of which 4.1% due to the currency effect (**) Excluding EUR14.8 million in Satisloh revenue from sales to Essilor (***) Satisloh was not part of the Group in first-half 2008.
Improving performance in the second quarter: the like-for-like decrease
in first-half revenue included a decline of 1.0
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