EssilorLuxottica Beats H1 Expectations with Solid Revenue and Cash Flow

Solid revenue¹ trajectory at +9.7% in H1, with Q2 at +8.7%

Increasing profitability, with Adj. Operating Profit^1,2 +15%

• Group’s revenue grew 9.7% in H1 at constant exchange rates¹, with Q2 at +8.7%
• Retail comparable-store sales³+8.0% in Q2, with optical and sun banners equally contributing
• North America, EMEA and Latin America up high-single digit in Q2, Asia-Pacific up double digits
• Core eyecare/eyewear business steadily growing mid-single digit in Q2 and H1
• Myopia portfolio confirmed as a growth engine, growing 24% in revenue in Q2
• AI glasses almost doubling in revenue in Q2
• Adjusted²operating margin expanding up to 18.6%, gaining 80bps to 18.9% at constant exchange rates¹
• Free cash flow4 at Euro 1.07 billion in H1, more than Euro 100 million above 2025
• Started strategic partnership with Applied Materials, focusing on new generations of intelligent optical systems

The Board of Directors of EssilorLuxottica met on July 28, 2026 to approve the condensed consolidated interim financial statements for the six months ended June 30, 2026. The Statutory Auditors have performed a limited review of these financial statements.

Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica commented:

“We’re proud to report a successful first half, delivering nearly double-digit revenue growth while increasing adjusted operating profit by 15% at constant currency. Once again, our performance reflects the power of our strategy and our ability to execute with excellence as we continue to transform our industry. We drove strong momentum across all regions and businesses, fueled by our vision care and eyewear innovation and the expansion of our distribution network, with Top Charoen in Thailand further strengthening our global footprint. We made significant progress across our key growth drivers, from the acceleration of our myopia management portfolio to the sustained success of AI-powered wearables, driven by our iconic Ray-Ban and Oakley brands and our core expertise. While doing so, we continued to invest in the future, reinforcing our leadership to develop the next generation of intelligent optical systems through our partnership with Applied Materials. Supported by an increasingly integrated business and industrial platform, and as we double down on the capabilities and technologies that will shape the future of our industry, the dedication and talent of our colleagues around the world remain our greatest asset. With these foundations in place, we’ve never been better positioned to seize the opportunities ahead and accelerate our next chapter of growth”.

_Notes

_{As table totals are based on unrounded figures, there may be discrepancies between these totals and the sum of their rounded component.}

_{1 Constant exchange rates: figures at constant exchange rates have been calculated using the average exchange rates in effect for the corresponding period in the relevant comparative year.}

_{2 Adjusted measures or figures: adjusted from the expenses or income related to the combination of Essilor and Luxottica (the “EL Combination”), the acquisition of GrandVision (the “GV Acquisition”), other strategic and material acquisitions, and other transactions that are unusual, infrequent or unrelated to the normal course of business as the impact of these events might affect the understanding of the Group’s performance. A description of those other transactions that are unusual, infrequent or unrelated to the normal course of business is provided in the half-year and year-end disclosure (see dedicated paragraph Adjusted measures).}

_{3 Comparable-store sales: reflect, for comparison purposes, the change in sales from one period to another by taking into account in the more recent period only those stores already open during the comparable prior period. For each geographic area, the calculation applies the average exchange rate of the prior period to both periods.}

_{4 Comparable or pro forma (revenue): comparable revenue includes the contribution of GrandVision’s revenue to EssilorLuxottica as if the combination between EssilorLuxottica and GrandVision (the “GV Acquisition”), as well as the disposals of businesses required by antitrust authorities in the context of the GV Acquisition, had occurred at the beginning of the year (i.e. January 1). Comparable revenue has been prepared for illustrative purpose only with the aim to provide meaningful comparable information.}

_{5 Free Cash Flow: Net cash flow provided by operating activities less the sum of Purchase of property, plant and equipment and intangible assets and Cash payments for the principal portion of lease liabilities according to the IFRS consolidated statement of cash flow.} 

_{6 Net debt: sum of Current and Non-current borrowings, Current and Non-current lease liabilities, minus Short-term investments, Cash and cash equivalents and the Financial debt derivatives at fair value as disclosed in the IFRS consolidated financial statements.}