Eyewear group EssilorLuxottica has reported +7.3% revenue growth (+5.5% at current rates) to €14.03 billion at constant exchange rates for the first half of 2025, ended 30 June. The eyewear company also achieved +7.3% revenue growth to €7.12 billion in Q2 2025 at constant rates.
The adjusted operating profit for H1 remained stable at €2.53 billion or 18.3% of revenues at constant rates, despite external headwinds including new US import duties. Adjusted group net profit came in at €1.79 billion (€1.75 billion at current rates) or 13.1% of revenues at constant rates (12.8% at current rates).
According to EssilorLuxottica, the growth was supported by continued momentum in the Direct to Consumer (DTC) segment and progress in wearables, particularly AI glasses.
EssilorLuxottica Chairman and CEO Francesco Milleri and Deputy CEO Paul du Saillant commented, “With a strong first half, including top-line growth and momentum across all regions and businesses, we are keeping pace with our growth targets despite a volatile environment.
“We are leading the transformation of glasses as the next computing platform, one where AI, sensory tech and a data-rich healthcare infrastructure will converge to empower humans and unlock our full potential.
“The success of Ray-Ban Meta, the launch of Oakley Meta Performance AI glasses and the positive response to Nuance Audio are major milestones for us in this new frontier. As we advance our med-tech journey and prepare to welcome Optegra, we’re shaping the most personalised, adaptive patient experience to date.
“Our offering will span comprehensive eyecare, advanced diagnostics and eye treatment, while paving the way for early detection of broader systemic conditions. We are fortifying our leadership in myopia management with Stellest 2.0.”
They continued, “At the same time, as we proudly celebrate Oakley’s 50th anniversary, we continue driving innovation at our core, with AI-powered Varilux Physio Extensee technology and Ray-Ban’s bold Puffer collection among other wins that have us moving into the second half with confidence.
“As always, we remain true to our long-term ambitions and our commitment to shaping a future of meaningful global change, and we are thankful to our over 200,000 passionate and talented colleagues who help bring our vision to life.”
Regional performance
In Q2, EMEA recorded +9.1% revenue growth, Asia Pacific saw a +7.8% rise despite a slight deceleration for Professional Solutions in China, Latin America grew +8.2% and North America increased +5.5% at constant rates driven by DTC and Professional Solutions, and the addition of Supreme.
In the first half, EMEA was the Group’s best-performing region, with revenue rising +9.5% at constant rates. Asia Pacific grew +9%, while Latin America and North America advanced at +8.7% and +4.9%, respectively, at constant rates.
A strong innovation pipeline drives growth
Innovation in the wearables segment was a first-half highlight. Sales of the Ray-Ban Meta smart glasses more than tripled year-on-year. In June, the Group introduced the Oakley Meta AI glasses as part of the brand’s 50th anniversary celebrations, with the HSTN collection and Oakley Prizm lenses set to debut later this summer.
The February roll-out of Nuance Audio, a device which targets mild-to-moderate hearing loss, also gathered pace. First debuted in the USA and Italy, it has since entered other European countries and is now present in around 10,000 points-of-sale across North America and Europe.
The core vision care business, which continues to account for the majority of the Group’s revenues, maintained a steady growth trajectory. This was underpinned by good sales across regions, innovation across segments and recent M&A activity, including the full integration of Supreme and Heidelberg Engineering as of October 2024.
EssilorLuxottica also confirmed the acquisition of the Optegra eye clinic network, marking a further step into its MedTech ambitions.
The Group reaffirmed its targets of mid-single-digit annual revenue growth from 2022-2026 at constant exchange rates, targeting a range of €27-28 billion. It expects to achieve adjusted operating profit margins of 19-20% by the end of that period. ✈
