2024-07-25 16:15:07 ET
EssilorLuxottica Société anonyme (ESLOF)
Q2 2024 Earnings Call
July 25, 2024 12:30 ET
Company Participants
Giorgio Iannella - Investor Relations
Francesco Milleri - Chairman and Chief Executive Officer
Paul du Saillant - Deputy Chief Executive Officer
Stefano Grassi - Chief Financial Officer
Conference Call Participants
Chiara Battistini - JPMorgan
Oriana Cardani - Intesa Sanpaolo
Louise Singlehurst - Goldman Sachs
Veronika Dubajova - Citi
Domenico Ghilotti - Equita
Grace Smalley - Morgan Stanley
Luca Solca - Bernstein
James Grzinic - Jefferies
Cedric Lecasble - Stifel
Presentation
Giorgio Iannella
Hello, everybody. This is Giorgio Iannella from the IR team. Thank you for joining EssilorLuxottica H1 2024 Results Management Call. The Group’s Chairman and CEO, Francesco Milleri; the Deputy CEO, Paul du Saillant; and the CFO, Stefano Grassi will walk you through the business and financial highlights for the period. After their presentations, there will be a Q&A session. [Operator Instructions]
With that, I hand it over to Francesco.
Francesco Milleri
Welcome, everybody. Good to see so many of you connected today for the EssilorLuxottica first semester earnings call. I am pleased to introduce our sound financial performance and give you an update on our key strategic initiatives. In the first 6 months of the year, we posted revenue growth in line with the long-term targets with the two quarter well aligned in their performance and the operating margin in sound progression. That leaves us fully confident to deliver on our 5-year targets. Stefano will elaborate on that. I just like to emphasize here the solidity of our growth path since 2021 on both revenue and margins always translating into strong cash flows.
While we will execute our strategy in the core business of eye care and eyewear, we played the role of a frontrunner in the technological revolution of the industry. The combination of Essilor, Luxottica and GrandVision into one single stronger group was just the first step. Now we are at work to make a second much bolder move, bringing our group into the promising future of wearable and the AI-based face computing. We’ll bring together digital platform, portfolio of new applications ranging from eye care, hearing aid, predictive advanced diagnostic to gaming, sports and entertainment. In that direction, Ray-Ban Meta continued to be a great success, upgrading product quality, adding new functionalities and accelerating growth sales. At the start of its journey, Ray-Ban Meta already sold more the Ray-Ban story in its entire life. We strongly believe we are just at the beginning of a revolution, which will combine technology with design and branding and deeply reshape many industries converging on our wearable unique platform....
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EssilorLuxottica Société anonyme (ESLOF) Q2 2024 Earnings Call Transcript