Essilor posted H1 FY16 results below our estimates as well as market consensus. In Q2 16, the lfl revenue increased by +3.2% (vs Q2 15: +4.4%), primarily due to a slowdown in the Lenses & Optical segment (+4.4% vs Q2 15: +4.9%; accounts for c.87% of group revenue). The organic growth of the North America lenses business slumped to +1.5% (vs Q2 15: +3.7%; accounts for c.37% of the group’s revenue) on the back of a sluggish performance in the ‘Transitions Opticals’ busines
05 Sep 2016
Strong fundamentals intact; temporary impact from guidance cut
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Strong fundamentals intact; temporary impact from guidance cut
EssilorLuxottica SA (EI:WBO) | 0 0 1.9% | Mkt Cap: 24,290m
- Published:
05 Sep 2016 -
Author:
Nishant Choudhary -
Pages:
3
Essilor posted H1 FY16 results below our estimates as well as market consensus. In Q2 16, the lfl revenue increased by +3.2% (vs Q2 15: +4.4%), primarily due to a slowdown in the Lenses & Optical segment (+4.4% vs Q2 15: +4.9%; accounts for c.87% of group revenue). The organic growth of the North America lenses business slumped to +1.5% (vs Q2 15: +3.7%; accounts for c.37% of the group’s revenue) on the back of a sluggish performance in the ‘Transitions Opticals’ busines