CHARENTON-LE-PONT, France, March 6 /PRNewswire-FirstCall/ --
- Another Year of Solid Performance
The Board of Directors of Essilor International, the world leader in
ophthalmic optical products, today announced its audited financial results
for the year ended December 31, 2007.
EUR millions 2007 2006(2) Change
Revenue 2,908.1 2,690.0 + 8.1%
Contribution from operations(1) 527.4 482.6 + 9.3%
As a % of revenue 18.1% 17.9% ---
Operating profit 504.6 460.5 + 9.6%
Profit attributable to equity 366.7 328.7 + 11.6%
12.6% 12.2% ---
As a % of revenue
Earnings per share (in EUR) 1.78 1.61(3)+ 10.8%
(1) Operating profit before share-based payments, restructuring costs and other non-recurring items, and goodwill impairment.
(2) 2006 figures have been adjusted for the option of recognizing actuarial gains and losses on pensions and other post-retirement benefits directly in equity. This had the effect of reducing expenses from operations by EUR0.6 million.
(3) Adjusted to reflect the 2-for-1 stock split on 16 July 2007.
In an expanding market, Essilor continued to gain share in corrective lenses in 2007, thanks to its operating efficiency and its strategy of innovation and international expansion. The year's highlights included:
- Strong growth in every region of the world.
- An improvement in the product mix led by firm growth in progressive lenses (Varilux Physio(R), Definity(R), Anateo(R)/Accolade(R)), medium and high-index lenses, Transitions(R) variable-tint lenses and anti-reflective coatings.
- Ongoing external growth, with the acquisition during the year of 16 new companies.
- Further profi
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