Essilor Luxottica (ESLOF) Q1 2026 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 Excello Luxottica Q1 Revenue Management Call. The group's CFO, Stefano Grassi, will walk you through the revenue performance of the first quarter of the year. After its presentation, there will be a 30-minute Q&A session. If you want to make a question, please press star followed by five. We kindly ask you to limit your questions to a maximum of two. With that, I hand it over to Stefano. Hello, everyone, and welcome to our Q1 trading update. We closed 2025 with a double-digit year. The revenue for Estrella Luxottica last year grew 11.2% at constant currency for the full year. And we are now opening up Q1 2026 with another double-digit start. The first quarter saw revenue up 10.8% at constant currency, with a well-balanced between professional solution and direct-to-consumer, both of them on a double-digit pace. Our regions show North America up 12.5% at constant currency, while EMEA, Asia-Pacific, and Latin America, they were all up on a high single digit in Q1. Our growth profile was very much driven by our traditional business, the posted mid-single-digit growth, and catapulted that on top by a strong demand of AI glasses with a product range that continued to expand thanks to the introduction of the new Ray-Ban MetaOptics, two models in particular, Blazer and Scriber, that were specifically designed to enhance our prescription offer on AI glasses. Those glasses, together with a few other innovations, were all showcased at the Switch, the Vision Innovation Summit that was organized for the first time ever in Acelot Exotica history in the month of March in Orlando, Florida, and in the month of April in Monaco, hosting our Asian and EMEA clients, and was very m...