Essilorluxottica Sa · EURONEXT:EL
Essilorluxottica Sa — Q4 2024 Earnings Presentation
21 slides from Essilorluxottica Sa's earnings presentation, Feb 13, 2025
Slide 1: Q4/FY 2024 Results
Q4/FY 2024 Results February 12, 2025 Superbowl commercial
Slide 2: Financial Highlights
Financial Highlights • Group revenue at constant exchange rates +9.2% in Q4 and +6.0% in the FY • North America accelerating in Q4, with SGH positive; sound EMEA driven by both PS and DTC • Ray-Ban Meta at 2 million units sold since the launch, with strong acceleration in 2024 • Nuance Audio cleared
Slide 3: Operational Highlights
Operational Highlights • Organization fully aligned to deploy the Company’s strategy • Comprehensive myopia suite in the making, new Stellest glasses coming soon • Unlocking full potential of Transitions technology with Gen S, strongly supporting new categories • Successful launch of first Moncler a
Slide 4: Mission & Sustainability
Mission & Sustainability • Joined forces with the World Health Organization (WHO) on its SPECS 2030 initiative • Around 980 million people with permanent access to vision care and 87 million equipped in 139 countries, with 33,400 rural optical points created so far since 2013 • Advocacy efforts at
Slide 5: Nuance Audio booth at CES 2025 in Las Vegas
5 Nuance Audio booth at CES 2025 in Las Vegas
Slide 6: Revenue Growth
Revenue Growth Constant Current exchange rates exchange rates Q4 2024 vs 2023 Group Revenue +9.2% +8.5% FY 2024 vs 2023 Group Revenue +6.0% +4.4% Q4/FY 2024 Results 6
Slide 7: Financial Highlights
Financial Highlights Constant Current exchange rates exchange rates FY 2024 ADJUSTED OPERATING PROFIT 17.0% 16.7% AS A % OF REVENUE ADJUSTED NET INCOME PROFIT 12.0% 11.8% AS A % OF REVENUE Q4/FY 2024 Results 77
Slide 8: Q4 revenue by segment, 2024 vs 2023
Q4 revenue by segment, 2024 vs 2023 Change at constant Change at current € million Q4 2024 Q4 2023 exchange rates exchange rates Professional Solutions 3,117 2,986 +5.5% +4.4% Direct To Consumer 3,664 3,264 +12.7% +12.3% EssilorLuxottica 6,781 6,250 +9.2% +8.5% Q4/FY 2024 Results 8
Slide 9: Q4 revenue by region, 2024 vs 2023
Q4 revenue by region, 2024 vs 2023 Change at constant Change at current € million Q4 2024 Q4 2023 exchange rates exchange rates North America 3,151 2,910 +7.8% +8.3% EMEA 2,357 2,150 +9.6% +9.6% Asia-Pacific 864 757 +14.0% +14.1% Latin America 408 433 +8.7% -5.7% EssilorLuxottica 6,781 6,250 +9.2% +
Slide 10: FY revenue by region and segment, 2024 vs 2023
FY revenue by region and segment, 2024 vs 2023 Change at constant Change at current € million FY 2024 FY 2023 exchange rates exchange rates North America 11,979 11,637 +3.1% +2.9% Professional Solutions 5,454 5,337 +2.4% +2.2% Direct To Consumer 6,524 6,300 +3.8% +3.6% EMEA 9,759 9,184 +7.9% +6.3% P
Slide 11: Nuance Audio booth at CES 2025 in Las Vegas
11 Nuance Audio booth at CES 2025 in Las Vegas
Slide 12: North America revenue +7.8% in Q4
North America revenue +7.8% in Q4 PROFESSIONAL SOLUTIONS • Excellent momentum in prescription frames, softness of sunglasses persisting • Shamir performing well in the lens business • Key accounts and partner ECPs still outpacing non-partner ECPs DIRECT TO CONSUMER • Sunglass Hut recovering with com
Slide 13: EMEA revenue +9.6% in Q4
EMEA revenue +9.6% in Q4 PROFESSIONAL SOLUTIONS • Effective execution across geographies, products and trade channels • Frame category as the strongest contributor thanks to both prescription and sunglasses • Innovation driving growth in the lens business DIRECT TO CONSUMER • Optical banners benefit
Slide 14: Asia-Pacific revenue +14.0% in Q4
Asia-Pacific revenue +14.0% in Q4 PROFESSIONAL SOLUTIONS • In Greater China, Stellest up around 50% and Nikon and Kodak DOT ramping up fast • Bolon struggling amid the tougher macroeconomic environment • Japan and Australia contributing nicely DIRECT TO CONSUMER • Healthy comparable-store sales grow
Slide 15: Latin America revenue +8.7% in Q4
Latin America revenue +8.7% in Q4 PROFESSIONAL SOLUTIONS • Positive performance of frames in Brazil • Lens business under pressure in Brazil, also due to tough comparison base last year • Excellent results in Colombia for both frames and lenses DIRECT TO CONSUMER • Best quarter of the year • Optical
Slide 16: Q4/FY 2024 Results
Q4/FY 2024 Results 16
Slide 17: Adjusted Statement of Profit or Loss
Adjusted Statement of Profit or Loss Constant Current € million FY 2024 FY 2023 exchange exchange rates rates Revenue 26,508 25,395 +6.0% +4.4% Cost of sales (9,673) (9,305) +5.1% +4.0% Gross profit 16,835 16,090 +6.5% +4.6% Margin % 63.4% 63.7% 63.5% Total operating expenses (12,421) (11,912) +5.4%
Slide 18: Adjusted Operating Profit Margin Bridge
Adjusted Operating Profit Margin Bridge +50 bps 280 bps -60 bps 17.0% -30 bps 16.7% 16.5% -170 bps FY 2023 Inflation Price/Mix and Strategic FY 2024 FX Impact FY 2024 Operating Investments Constant FX Current FX Efficiencies Q4/FY 2024 Results 18
Slide 19: Free Cash Flow & Net Debt
Free Cash Flow & Net Debt • Free cash flow at Euro 2.4 billion • Capex at Euro 1.52 billion • Net Debt at Euro 10.97 billion on 31 Dec 2024 (including lease liabilities of Euro 3.65 billion) • Net Debt / EBITDA LTM at 1.7x • Cash & Cash Equivalents at Euro 2.25 billion Q4/FY 2024 Results 19
Slide 20: Store Count on December 31, 2024
Store Count on December 31, 2024 North Asia- Latin Corporate Franchising Total EMEA America Pacific America Stores & Other Storecount Sunglass Hut 1,609 577 311 429 2,926 242 3,168 LensCrafters 1,012 82 1,094 8 1,102 Vision Express 848 848 121 969 Apollo 671 671 220 891 Target Optical 577 577 577 Ma
Slide 21: nuance audio
nuance audio in tune with life