Essilor - First-Half 2008 Revenue (and Mexico were especially dynamic with ...)

Essilor - First-Half 2008 Revenue

Date:7/16/2008

and Mexico were especially dynamic, with growth of around 30%.

Highlights of the quarter - Acquisitions

In June, Essilor announced the acquisition upon fulfillment of certain conditions precedent of Satisloh, the world's leading supplier of prescription laboratory equipment (EUR161 million in revenue in 2007). The purchase has not slowed the Company's strong external growth dynamic, led by a steady stream of small, geographically targeted acquisitions. Indeed, Essilor has recently carried out five such transactions in Europe, the United States and Asia.

In Germany, a majority interest has been acquired in Nika GmbH, a lens wholesaler that is the country's exclusive distributor of Nikon products. Based in Winningen (Rhineland-Palatinate), the company has revenues of roughly EUR9 million. Its purchase is designed to strengthen the close fit between Essilor's German distributor networks.

In the United States, the prescription laboratory network has been further strengthened by Essilor of America's acquisition of majority stakes in Deschutes (based in Oregon and Idaho, with revenues of $2.7 million) and Optimatrix (based in Alabama, with revenues of $4.6 million).

In Malaysia, Essilor has acquired the country's leading independent laboratory Frame N' Lenses. With revenues of EUR2 million and a local market share of 5%, the new subsidiary will improve the Company's control over the local distribution of its entry-level products. In India, Essilor has acquired the assets of Sankar & Co's ophthalmic division, comprising five formerly franchised laboratories in the Coimbatore region, which together generate EUR0.9 million in revenues. In particular, the new unit will develop a Crizal(R) anti-reflective lens center.

Appendix : Second quarter revenue

EUR millions Q2-2008 Q2-2007 % change % change Q1-2008

(reported)* (like-for-like)

Total 758.1 741.2
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SOURCE Essilor
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Essilor - First-Half 2008 Revenue(and Mexico were especially dynamic with ...),Health