Zurich (awp) – Eye care giant Alcon reported an acceleration in sales in the second quarter, while profitability fell slightly. The management of the Geneva-Texan group has generally confirmed its objectives for the whole of 2022.
Between April and the end of June, Alcon saw its sales accelerate by 5% (10% at constant exchange rates) to 2.2 billion dollars, it announced in a press release on Tuesday. Over the first six months of the year, sales increased by 9% (14% CER) to 4.38 (4.0) billion dollars.
In terms of profitability, the quarterly operating margin stood at 9.1%, after 10.9% a year ago. The core operating margin was 18.4% after 18.2% in the previous quarter. From January to June, the operating margin was 10.2% (9.4%) and the core operating margin was 19.5% (18.1%).
Net profit meanwhile reached 148 million, down from the 151 million made in the second half of 2021.
Diluted earnings per share amounted to 0.30 (0.31) dollar for the quarter and 0.64 (0.48) dollar for the first six months. Basic diluted earnings per share are respectively at 0.63 (0.56) and 1.31 (1.05) dollars.
These figures are in line with the expectations of the AWP consensus analysts for the turnover, but lower in terms of the operating margin which was expected at 10.5%. The net profit is a little higher than expected (145 million).
The Surgical division achieved quarterly revenue of 1.3 billion dollars (1.2 billion in the 2nd quarter of 2021), an increase of 7% (13% at constant exchange rates). Vision Care division revenue increased 2% (7% CER) to $904 (888) million. In the first half, Surgical posted sales of 2.56 (2.28) billion dollars, up 12% (17% CER) and the Vision Care division sales of 1.82 (1.72 ) billion, up 6% (10% CER)
2022 revenue forecast slightly reduced
Quoted in the statement, Chief Executive Officer David J. Endicott noted that the second quarter reflected the continued efforts of all of the company’s employees, who worked to thwart significant headwinds at the macroeconomic level. The situation should remain demanding for the rest of the year.
For the full year, Alcon expects net sales growth of 9-11%, or revenue of between $8.6 and $8.8 billion ($8.7-8.9 billion in last May). Core operating margin is still expected between 18% and 19% and diluted basic earnings per share are now expected between 2.2 and 2.3 USD compared to 2.35-2.45 USD in May.
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