Essilor released Q3 FY16 trading results in line with our estimates (total revenue: 6.4% vs AV estimate: 6.7%), primarily driven by the 4% scope impact vs AV’s estimate of 3.2%. However, organic growth slowed to 3.2% (vs AV’s estimate: 4.4%) due to lower than expected growth in the Lenses and Optical Instruments segment (2.9% vs AV’s estimate: 4.7%; accounts for c.89% of Q3 16 revenue). Within the segment, LatAm’s organic growth slowed to 4.5% (vs AV estimate: 11.5%; a
25 Oct 2016
Temporary issues mire the short term; strong fundamentals intact
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Temporary issues mire the short term; strong fundamentals intact
EssilorLuxottica SA (EI:WBO) | 0 0 1.9% | Mkt Cap: 24,290m
- Published:
25 Oct 2016 -
Author:
Nishant Choudhary -
Pages:
3
Essilor released Q3 FY16 trading results in line with our estimates (total revenue: 6.4% vs AV estimate: 6.7%), primarily driven by the 4% scope impact vs AV’s estimate of 3.2%. However, organic growth slowed to 3.2% (vs AV’s estimate: 4.4%) due to lower than expected growth in the Lenses and Optical Instruments segment (2.9% vs AV’s estimate: 4.7%; accounts for c.89% of Q3 16 revenue). Within the segment, LatAm’s organic growth slowed to 4.5% (vs AV estimate: 11.5%; a