EssilorLuxottica Reports Strong Start to 2023 and Commitment to Sustainability

EssilorLuxottica has reported a solid start to the year with consolidated revenue for the first quarter of 2023 reaching Euro 6,151 million. This represents an increase of 8.6% at constant exchange rates compared to the same period last year, and 9.7% at current exchange rates.

The company's commitment to sustainability is at the heart of its strategy, and it is the key focus for 2023. EssilorLuxottica has started the year by setting science-based emission reduction targets in line with the SBTi criteria, and announced a new agreement with ERG for the supply of electricity produced from a repowered wind farm in Sicily, covering half of its energy needs in Italy.

Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica commented: "We're very pleased to start the year with another strong quarter, every region and channel contributing to our performance. What's even more satisfying is the way in which we achieved it. Together with our ambition to help eliminate uncorrected poor vision for hundreds of millions of people in underserved communities, this is providing a sense of purpose for our people, bringing our stakeholders along for the journey."

The company's revenue grew in all regions, with North America and EMEA up high-single digits, and APAC and Latin America up double digits. Comparable-store sales grew high-single digits, with former GV banners outpacing. All regions accelerated versus the fourth quarter of last year, indicating a promising outlook for the rest of 2023.

EssilorLuxottica's focus on sustainability is clearly resonating with its customers and investors, and the company's commitment to reducing its carbon footprint and promoting access to vision care in underserved communities is a positive step forward for the industry as a whole.