EssilorLuxottica’s 2024 Financial Results: Sound Sales Growth and Margin Expansion with Smartglasses as a New Driver
On February 12, 2025, the Board of Directors of EssilorLuxottica met to approve the consolidated financial statements for the year ended December 31, 2024. The company reported impressive growth in sales and margins, driven in part by the success of its smartglasses business.
Strong Sales Growth
North America saw accelerating sales in the fourth quarter of 2024, with a 9.2% increase in group revenue at constant exchange rates. Europe, the Middle East, and Africa (EMEA) were also driven by strong sales, with a 6.0% increase in group revenue at constant exchange rates for the full year.
One of the standout performers was the Ray-Ban Meta smartglasses, which have sold over 2 million units since their launch. Sales of these smartglasses showed strong acceleration in 2024.
New Markets and Expansion
Nuance Audio, EssilorLuxottica’s new audio division, started off in the US Over-The-Counter (OTC) market and Europe in 2024. The company did not provide specific sales figures for this division, but it is expected to contribute to the company’s growth in the future.
Stellest, EssilorLuxottica’s China-based subsidiary, continued to be a strong performer, with revenue up approximately 50% in the fourth quarter of 2024.
Margin Expansion
The company reported an adjusted operating margin of 17.0% at constant exchange rates, a 50 basis point advance versus 2023. Free cash flow came in at Euro 2.4 billion for the full year.
Dividends and Sustainability
A proposed dividend of Euro 3.95 per share was announced, with a scrip dividend option available. EssilorLuxottica also validated its greenhouse gas emission reduction targets in line with the Science Based Targets initiative (SBTi) for scopes 1, 2, and 3.
What Does This Mean for Consumers?
For consumers, the success of EssilorLuxottica’s smartglasses business could lead to more advanced and feature-rich products becoming more widely available. The company’s expansion into the audio market could also result in new and innovative hearing solutions.
What Does This Mean for the World?
The growth of EssilorLuxottica’s smartglasses business and its expansion into the audio market could have a significant impact on the technology industry as a whole. The company’s success could lead to increased competition and innovation in the wearable technology space.
Conclusion
EssilorLuxottica’s 2024 financial results showed strong sales growth and margin expansion, driven in part by the success of its smartglasses business and the launch of its new audio division. The company’s continued success in China and Europe also contributed to its impressive numbers. Consumers can look forward to new and innovative products in the smartglasses and audio markets, while the technology industry as a whole could see increased competition and innovation as a result of EssilorLuxottica’s success.
- Sales growth in North America and Europe
- Success of Ray-Ban Meta smartglasses
- Expansion into audio market
- Strong performance in China
- Margin expansion and free cash flow
- Proposed dividend and SBTi validation
