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EssilorLuxottica (EFFP: A2/A): 1H24 Results

HEALTHCARE
  • Good numbers
  • Says no capital increase to facilitate Meta 5% stake. Will have to buy shares in open market.... Shares are UP this morning
  • Revenue +5.2% Q2 at Constant FX. +5.3% in H1
  • Adj Op Profit Margin 18.8% up 0.5%
  • FCF 971m in H1
  • Adj Net Profit €1,746 +10.6% at Constant FX
  • Net Debt €9.76b incl leases
  • ND/EBITDA 1.5x down from 1.6x
  • Next bond is May 25 €1.5bn.

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