Essilor Luxottica (ESLOF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and good afternoon, everybody. This is Giorgio Ianella from the IR team. Thank you for joining S0 Luxottica Q1 Revenue Management Call. The Group CFO, Stefano Grassi, will elaborate about the revenue drivers of the first quarter of the year. After this presentation, there will be a 30-minute Q&A session. If you want to make a question, please press star followed by 5. We kindly ask you to limit your questions to a maximum of 2. With that, I hand it over to Stefano. Hello everyone and welcome to our Q1 2025 results. We're here today to comment an excellent start of 2025, despite a microenvironment that is clearly more uncertain than ever seen in recent years. AstroLuxottica delivered a first quarter with revenue up 7.3% at constant currency and 8.1% at current exchange results. Asia Pacific was up double digit, while EMEA delivered a 9.9% top line growth at constant currency. Latin America was approximately 9%, and our North America region delivered a mid-single digit quarter with a 4% top line growth. The impact of the two recently acquired, Heidelberg Engineer and Supreme, accounts for about two percentage points in our top-line growth profile. So even excluding those from our revenue growth, you will be looking at an underlying company marching at a mid-single-digit pace, very consistent with the long-term guidance that we share with you between 2022 and 2026. Moving to FX now, let me just share that in Q1, currencies created finally, I would say, some tailwinds in our numbers, with about one percentage point of difference between constant and current exchange. And the main reason for that is the revaluation of the US dollar against euro year over year, which was approximately 3% during the course of the first quarter. Unfortunately, those tailwinds wi...