Essilorluxottica Sa · EURONEXT:EL
Essilorluxottica Sa — Q2 2025 Earnings Presentation
22 slides from Essilorluxottica Sa's earnings presentation, Jul 28, 2025
Slide 1: Q2/H1 2025 Results
Q2/H1 2025 Results July 28, 2025
Slide 2: Financial Highlights
Financial Highlights • Group’s revenue growing 7.3% in both Q2 and H1 (constant exchange rates) • North America accelerating in PS, DTC keeping a solid growth pace • EMEA confirming the strong performance of PS and DTC, as the best region for the Group • AI glasses Ray-Ban Meta up more than 200% in
Slide 3: Operational Highlights
Operational Highlights • Focus on high-paced execution in core business • Integrated supply chain model reinforced with additional capacity and flexibility • Launch of new generation Stellest 2.0 lenses in China, more markets to come soon • New Varilux Physio Extensee, Nikon Z and Shamir feeding inn
Slide 4: Q2/H1 2025 Results
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Slide 5: Revenue Growth
Revenue Growth Constant Current exchange rates exchange rates Q2 2025 vs 2024 Group Revenue +7.3% +3.2% H1 2025 vs 2024 Group Revenue +7.3% +5.5% Q2/H1 2025 Results 5
Slide 6: Q2/H1 2025 Results
Q2/H1 2025 Results Strictly confidential - for internal use only. Do not share or forward.
Slide 7: Q2 revenue by segment, 2025 vs 2024
Q2 revenue by segment, 2025 vs 2024 Change at constant Change at current € million Q2 2025 Q2 2024 exchange rates exchange rates Professional Solutions 3,329 3,334 +3.9% -0.1% Direct To Consumer 3,846 3,621 +10.4% +6.2% EssilorLuxottica 7,175 6,955 +7.3% +3.2% Q2/H1 2025 Results 7
Slide 8: Q2 revenue by region, 2025 vs 2024
Q2 revenue by region, 2025 vs 2024 Change at constant Change at current € million Q2 2025 Q2 2024 exchange rates exchange rates North America 3,104 3,098 +5.5% +0.2% EMEA 2,856 2,648 +9.1% +7.9% Asia-Pacific 849 821 +7.8% +3.5% Latin America 366 387 +8.2% -5.6% EssilorLuxottica 7,175 6,955 +7.3% +3.
Slide 9: Q2/H1 2025 Results
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Slide 10: H1 revenue by segment, 2025 vs 2024
H1 revenue by segment, 2025 vs 2024 Change at constant Change at current € million H1 2025 H1 2024 exchange rates exchange rates Professional Solutions 6,565 6,414 +4.2% +2.4% Direct To Consumer 7,459 6,876 +10.2% +8.5% EssilorLuxottica 14,024 13,290 +7.3% +5.5% Q2/H1 2025 Results 10
Slide 11: H1 revenue by region, 2025 vs 2024
H1 revenue by region, 2025 vs 2024 Change at constant Change at current € million H1 2025 H1 2024 exchange rates exchange rates North America 6,184 5,973 +4.9% +3.5% EMEA 5,404 4,969 +9.5% +8.8% Asia-Pacific 1,702 1,589 +9.0% +7.1% Latin America 735 759 +8.7% -3.1% EssilorLuxottica 14,024 13,290 +7.
Slide 12: Q2/H1 2025 Results
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Slide 13: North America revenue +5.5% in Q2
North America revenue +5.5% in Q2 PROFESSIONAL SOLUTIONS • Accelerating across categories, with little help from pricing • Independent gaining further momentum in alliances/partnerships, key accounts keeping solid • Ray-Ban Meta, prescription frames of Ray-Ban and Oakley and Miu Miu as the top drive
Slide 14: EMEA revenue +9.1% in Q2
EMEA revenue +9.1% in Q2 PROFESSIONAL SOLUTIONS • Ray-Ban Meta continuing on a robust growth, expanding its distribution scope • Lens sales sustained by innovation, with Varilux and Transitions Gen S • Miu Miu still standing out as the best performing brand among licenses DIRECT TO CONSUMER • Optica
Slide 15: Asia-Pacific revenue +7.8% in Q2
Asia-Pacific revenue +7.8% in Q2 PROFESSIONAL SOLUTIONS • Myopia management portfolio advancing high-single digit in Greater China • Nikon brand winning across its lens range, Transitions Gen S launched in Greater China • Oakley growing high-single digit, Ray-Ban Meta available in India since May DI
Slide 16: Latin America revenue +8.2% in Q2
Latin America revenue +8.2% in Q2 PROFESSIONAL SOLUTIONS • Brazil nicely growing in frames and lenses, with Óticas Carol on a sound growth pace • Mexico turning positive, also on the back of the newly introduced Ray-Ban Meta • Varilux XR and Transitions Gen S launched in Argentina DIRECT TO CONSUMER
Slide 17: Q2/H1 2025 Results
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Slide 18: Adjusted Statement of Profit or Loss
Adjusted Statement of Profit or Loss Constant Current € million H1 2025 H1 2024 exchange exchange rates rates Revenue 14,024 13,290 +7.3% +5.5% Cost of sales (5,128) (4,749) +9.5% +8.0% Gross profit 8,896 8,541 +6.1% +4.2% Margin % 64.3% 63.5% 63.4% Total operating expenses (6,364) (6,109) +5.6% +4.
Slide 19: Free Cash Flow & Net Debt
Free Cash Flow & Net Debt • Free cash flow at Euro 951 million • Capex at Euro 729 million • Net Debt at Euro 11.26 billion on 30 June 2025 (including lease liabilities of Euro 3.47 billion) • Net Debt / EBITDA LTM at 1.7x • Cash & Cash Equivalents at Euro 2.79 billion Q2/H1 2025 Results 19
Slide 20: Q2/H1 2025 Results
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Slide 21: Store Count on June 30, 2025
Store Count on June 30, 2025 North Asia- Latin Corporate Franchising Total EMEA America Pacific America Stores & Other Storecount Sunglass Hut 1,564 561 307 443 2,875 237 3,112 LensCrafters 1,012 78 1,090 9 1,099 Vision Express 852 852 117 969 Apollo 674 674 219 893 Target Optical 580 580 580 MasVis
Slide 22: Q2/H1 2025 Results
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