Consolidated revenue for the first nine months of 2010 amounted to EUR2,903.8 million, up 17.6% compared with the prior-year period. On a like-for-like basis, revenue rose by 2.8%, led by strong growth in sales in emerging markets and the sharp recovery in the Equipment Division.
Changes in the scope of consolidation accounted for 9.7% of reported growth, of which 3.1% for bolt-on acquisitions and 6.6% for strategic acquisitions (Signet Armorlite and FGX International).
The 5.1% positive currency effect resulted mainly from the appreciation against the euro of the US and Canadian dollars, the Brazilian real and, to a lesser extent, the Australian dollar.
For the nine months ended September 30, Essilor reported 5.9% revenue growth excluding the currency effect and strategic acquisitions, in line with its full-year objective.
Third quarter revenue up 21.4% Consolidated revenue EUR millions Q3 Q3 % Change % Change Contribution 2010 2009 (reported*) (like-for-like) from acquisitions Lenses and 898.0 782.9 +14.7% +2.6% +4.4% Optical Instruments Europe 339.4 324.3 +4.7% -0.4% +4.0% North 386.4 333.4 +15.9% +1.8% +3.7% America Asia-Pacific 119.4 89.6 +48.3% +9.1% +7.4% & Africa Latin 52.8 35.6 +33.3% +21.7% +6.2% America Equipment 31.5 22.1 +42.1% +14.7% +27.5% Readers 47.5 - N/M N/M N/M TOTAL 977.0 805.1 +21.4% +3.0% +10.9% *Currency effect: +7.5%
In the third quarter, consolidated revenue rose by 21.4% on a reported basis.
The 3% like-for-like increase confirms the upswing in demand observed during the first half in a still uncertain business environment.
The impact of changes in the scope of consolidation added 10.9% to growth, of which 2.9% from bolt-on acquisitions and 8% from strategic acquisitions.
Lastly, the decline in the euro against the Company's other billing currencies had a 7.5% positive impact on third-quarter revenue.
Performance by reg
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