Essilor: a good start to the year

Essilor today announced its consolidated revenue for the three months ended March 31, 2006.

Revenue for the first three months of 2006 (692.8 millions euro) was up 11.5% like-for-like, in comparison with a relatively weak prior-year period.

Acquisitions made in 2005 and early 2006 added 4% to reported growth, while the currency effect was a positive 6%, primarily reflecting the increase in the US dollar, Canadian dollar and Brazilian real against the euro compared with first-quarter 2005.

In a generally expanding market, the Group reported significant growth in unit sales and a favorable shift in the product mix. In particular, the new Varilux Physio progressive lens, which was launched in high-index materials during the first quarter, has proven highly popular with consumers and eyecare professionals alike.

As a result, business improved in Europe (+9.8%), while continuing to enjoy robust growth in North America (+12,4%), Asia (+14.3%) and Latin America (+17.3%).

Essilor continued to acquire new companies in the first quarter.
In New Zealand, Wellington-based Prolab was acquired and the stake in Christchurch-based Olab was raised to 50%. These two prescription laboratories have combined revenue of US$ 4 million.
In India, the Group acquired the assets of Delta CNC, a laboratory based in Ahmedabad.
In the United States, Uniscoat Inc., a coating facility in California, and PerfeRx Optical Co., Inc., a Varilux distributor in Massachusetts, were both acquired. The two companies reported total revenue of US$ 7 million.

In all, Essilor has acquired ten companies since January 1, representing full-year revenue of € 26 million.