Essilor Luxottica (ESLOF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everybody, this is Giorgio Iannella from the IR team. Thank you for joining S0 Luxottica H1 2026 results management call. The group chairman and CEO Francesco Milleri, the deputy CEO Paul du Saillant, and the CFO Stefano Grassi will walk you through the business and financial highlights of the period. After their presentations, 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 Francesco. Welcome back everyone and thank you for joining us today. I am pleased to reconnect with you to share the result of the first half of the year and give an update on the execution of our strategic vision as the group evolves at a speed that is completely new in our history. First of all I would like to say just a quick word on the financial performance of the first semester. Revenue growth at a constant currency remained extremely solid at 9.7%, fully aligned with our targets. This result was supported by the resilient performance of our core business of frame and lenses and by the exponential growth of our clinical platform and wearable category. Adjusted operating profit progressed even faster at 15% alongside our investments in R&D, AI and medical capabilities, together with the strong development of our industrial and commercial footprint. Cash generation confirmed its strong trend, exceeding 1 billion in the period. Move to our strategy, we are taking a precise and ambitious direction. Essilor Luxottica is leveraging its unique platform, vertically integrated, fully omnichannel, leading in size and global footprint to move towards the new frontier of oculomics. Based on eye-related biomarkers to offer medical services everywhere and...