by Jagoda Darlak
(Reuters) – EssilorLuxottica reported on Friday a notable increase in its operating margin during the first half of the year, despite a difficult environment.
The maker of Oakley and Ray-Ban sunglasses announced an adjusted operating margin up 100 basis points to 18.4% in the April-June half.
“We are today reporting a good first half of 2022 with solid growth in all regions and a strong increase in our operating margins,” Chairman and CEO Francesco Milleri said in a statement.
The group’s comparable sales increased by 7% to 6.39 billion euros in the second quarter at constant exchange rates, as the Europe, Middle East and Africa (EMEA) region continued to rebound with growth at two digits.
All major countries are positive except for China and Russia, the group said.
The company added that same-store sales at the recently integrated Dutch brand GrandVision rose 7% in the second quarter.
EssilorLuxottica has also reiterated its objective of annual revenue growth of around 5% between 2022 and 2026.
Last month, the group’s chairman, Leonardo Del Vecchio, died at the age of 87. The billionaire founded the company Luxottica in 1961 and remained its chairman and one of the main shareholders after joining forces with the French Essilor in 2018.
(Report Jagoda Darlak and Agata Rybska; French version Charlotte Lavin, edited by Kate Entringer)
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