MILAN (Reuters) -Operating profit at EssilorLuxottica rose a slightly smaller-than-expected 4.1% in the first half of the year, the Franco-Italian eyewear and optical lenses group said on Monday, as it dealt with the impact of U.S. tariffs.
First-half adjusted operating profit totalled 2.53 billion euros ($2.94 billion), slightly below a Visible Alpha analyst consensus of 2.55 billion euros.
Second-quarter revenue rose 3.2% at current exchange rates, weighed down by a weaker U.S. dollar, but helped by the acquisition of streetwear brand Supreme and Heidelberg Engineering. Net of the exchange effect, the increase was 7.3%.
The group confirmed its long-term outlook.
Sales in North America, the group’s main market, rose 5.5% at constant exchange rates, helped by the Supreme acquisition.
Ray-Ban Meta smartglasses – which currently account for a very small portion of revenues, but are being closely watched for their future prospects – more than tripled in revenue in the first half, the group said.
“We are leading the transformation of glasses as the next computing platform, one where AI, sensory tech and a data-rich healthcare infrastructure will converge,” said Chairman and CEO Francesco Milleri and Deputy CEO Paul du Saillant in a statement.
($1 = 0.8607 euros)
(Reporting by Elisa Anzolin, editing by Alvise Armellini and Jan Harvey)
Comments