Essilor has released its Q1 17 trading results. Organic sales growth came in below our expectation (+2.4% vs AV’s estimate: +4%), but a higher than expected scope effect (+4.6% vs AV’s estimate: +3.2%) and currency tailwinds (+3% vs AV’s estimate: -1.2%) resulted in a 10% increase in total revenue (vs AV’s estimate: +6.1%). The Lenses and Optical Instruments segment was the key reason behind the miss (organic growth slowed to +2.8% vs AV’s estimate: +4%; c.87% of
07 Jul 2017
A weak start to the year; but US recovery a big positive
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A weak start to the year; but US recovery a big positive
EssilorLuxottica SA (EI:WBO) | 0 0 1.9% | Mkt Cap: 24,290m
- Published:
07 Jul 2017 -
Author:
Sumit Sayal -
Pages:
4
Essilor has released its Q1 17 trading results. Organic sales growth came in below our expectation (+2.4% vs AV’s estimate: +4%), but a higher than expected scope effect (+4.6% vs AV’s estimate: +3.2%) and currency tailwinds (+3% vs AV’s estimate: -1.2%) resulted in a 10% increase in total revenue (vs AV’s estimate: +6.1%). The Lenses and Optical Instruments segment was the key reason behind the miss (organic growth slowed to +2.8% vs AV’s estimate: +4%; c.87% of