EssilorLuxottica’s revenue fell by 1.2% during 2018 from €16,349m (£14,016m) to €16,160m (£13,854m) while adjusted gross profit also fell by 1.4% to €10,172m (£8,719m).
The company said that business improved across all regions in its financial statements for 2018, which were approved by its board of directors last week.
Essilor’s reported that its sales grew during each quarter of 2018 with revenue reaching €7,459m (£6,447m), which is up 4.6% on the previous year on a like-for-like basis.
Executive vice chairman of EssilorLuxottica, Hubert Sagnières, said: “Since EssilorLuxottica was formed on 1 October 2018, it has fully embraced its mission to help people see more, be more and live life to its fullest. To reach this powerful goal, the group can rely on an outstanding performance from Essilor, which delivered strong business growth at all its divisions in 2018 and surpassed its growth targets for the year while continuing to work on numerous innovations that will benefit the entire ophthalmic optics and eyewear industries.”
Luxottica’s sales grew to €8,929 (£7,717), which was boosted by a better second half sales performance compared to the first six months of 2018.
Executive chairman of EssilorLuxottica, Leonardo Del Vecchio, said: “The contribution of Luxottica is significant: net sales, profitability and free cash flow all show positive growth, excluding the exchange rate effect.”
The group anticipates sales growth of 3.5–5% in 2019, with adjusted operating profit growth between 0.8–1.2 times sales.
Pictured is chief executive officer of Essilor, Hubert Sagnieres, and founder of Luxottica, Leonardo Del Vecchio