EssilorLuxottica announced a stronger than expected performance for H1 FY22 – sales and adjusted EBIT were ahead of the consensus by 2.5% and 5.2%, respectively. Both business segments contributed to the growth. However, the growth deceleration in North America is noticeable, raising fears of a further decline. The management reaffirmed the FY22 and mid-term sales and profitability targets. We will tweak our financial estimates slightly upwards but maintain our cautious stance based on the stock ....
29 Jul 2022
Solid H1 performance; NA growth deceleration is alarming!
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Solid H1 performance; NA growth deceleration is alarming!
EssilorLuxottica announced a stronger than expected performance for H1 FY22 – sales and adjusted EBIT were ahead of the consensus by 2.5% and 5.2%, respectively. Both business segments contributed to the growth. However, the growth deceleration in North America is noticeable, raising fears of a further decline. The management reaffirmed the FY22 and mid-term sales and profitability targets. We will tweak our financial estimates slightly upwards but maintain our cautious stance based on the stock ....