EssilorLuxottica: Q3 revenues down 5.2%
(CercleFinance.com) - EssilorLuxottica has announced that its consolidated revenue amounted to 4,085 million euros in the third quarter 2020, down 5.
2% y-o-y (-1.1% at constant exchange rates): however, they were up significantly sequentially (vs. Q2 2020).
Over the first nine months of 2020, consolidated revenue reached 10,315 million euros, down 21.2% y-o-y (-20.0% at constant exchange rates).
"Optical activities, which represent a solid 70% of the Company's revenue, drove the regained sales momentum. This was supported not only by pent-up demand but also by an enhanced awareness from consumers about the need to take care of their eyes," the group said.
"The Company continues to approach the next few months with prudent confidence. While it is careful about the near-term evolution of COVID-19 and about the amount of pent-up demand potentially fuelling the current recovery, it is confident about the structural resilience of optical needs," management said regarding its outlook.
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