Essilor: first quarter sales

Essilor today announced its consolidated sales for the three months ended March 31, 2004: 569,4 millions of euros, +9,9%, compared to 51,9 millions of the 1st quarter 2003.

The currency effect reduced growth by 5.4 points, and mainly reflected the 12% fall in the dollar against the euro between the first quarter of 2003 and the same period of 2004.

Sales in Europe (281,3 millions of euros, +5,6%) were boosted by product launches and the region's multi-network strategy. The expected contraction in like-for-like sales in Germany was limited to 2.8% in the first quarter, but is expected to be more pronounced in the coming months.

Sales in North America (230,9 millions of euros, +11,3%) reflected the market recovery underway since the fall of 2003, as well as higher sales of anti-reflective, progressive and high index lenses.

Sales in the Asia-Pacific region (44,1 millions of euros, +15,5%) increased on the back of improved demand in Japan, continued growth in Australia and New Zealand and a very good start to the year in India and China.

Sales in South America (13,0 millions of euros, +21,7%) were buoyed by robust demand in the region's main markets.

In the quarter, Essilor has acquired Spectrum Optical Inc., a prescription lens laboratory based in Sauk Rapids, Minnesota (Usa). Spectrum has 30 employees and reported sales of $4.1 million in 2003.