EssilorLuxottica Société anonyme (OTCPK:ESLOF) Q3 2024 Earnings Conference Call October 17, 2024 12:30 PM ET
Company Participants
Giorgio Iannella – IR
Stefano Grassi – CFO
Conference Call Participants
Luca Solca – Bernstein
Chiara Battistini – JPMorgan
Grace Smalley – Morgan Stanley
Louise Singlehurst – Goldman Sachs
Domenico Ghilotti – Equita
James Grzinic – Jefferies
Piral Dadhania – RBC Capital Markets
Anne-Laure Bismuth – HSBC
Giorgio Iannella
Hello, everybody. This is Giorgio Iannella from the IR team. Thank you for joining EssilorLuxottica Q3 Revenue Management Call. The Group’s CFO, Stefano Grassi will walk you through the revenue performance of the latest quarter. After his presentation, there will be a 30-minute Q&A session. [Operator Instructions]
With that, I hand it over to Stefano.
Stefano Grassi
Hello, everyone, and welcome to our third quarter sales results.
EssilorLuxottica in Q3, posted revenue up 4% at constant currency, which leads to a first nine months of 2024 with top line up 4.9% at constant currency. When we look at our revenue at current exchange results, we look at revenue up 2.3%, with a gap between current and constant exchange results that is broadly unchanged compared to what we’ve seen in the first six months of 2024.
The main reason for that is the U.S. dollar. The U.S. dollar that during the month of July and August in particular devaluate quite strongly against Euro. The macroeconomic environment continues to be quite challenging, in particular in a couple of countries, the U.S. and China. But despite that, we had a strong delivery in both B2B professional solution and direct-to-consumer, both brick-and-mortar and e-commerce.
On the direct-to-consumer side, we deliver a mid-single-digit pace with a double-digit in Asia Pacific, with a double-digit in Latin America and a strong contribution from EMEA. While we move to the B2B professional solution, we experienced a
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