EssilorLuxottica: Q4/FY 2025 Results - Revenue growing 18.4% in Q4 and 11.2% in the FY. Adj. operating margin at 16.0% in the FY

Core Insights - EssilorLuxottica achieved annual double-digit sales growth for the first time, with Q4 revenue increasing by 18.4% and full-year revenue growing by 11.2% at constant currency [2][6] - The company reported an adjusted operating margin of 16.0% for the fiscal year, despite challenges from US tariffs and investments in AI-glasses [6] - Record free cash flow reached Euro 2.8 billion, which is Euro 400 million higher than the previous year [6] Financial Performance - Group's revenue totaled Euro 28,491 million for the fiscal year, reflecting an 11.2% increase at constant exchange rates, with Q4 showing an 18.4% growth [6] - The adjusted operating margin was impacted by US tariffs and the introduction of AI-glasses, yet remained at 16.0% [6] - A proposed dividend of Euro 4.00 includes a scrip dividend option [6] Market and Product Insights - AI-glasses sales exceeded 7 million units in the fiscal year, with contributions from all regions and brands [6] - The myopia management portfolio saw a 22% increase in revenue globally, with strong expectations for the US market [6] - Nuance Audio launched successfully in 12 markets and 15,000 retail locations worldwide [6] Strategic Outlook - The company is committed to solid revenue growth over the next five years, with adjusted operating profit growth expected to align closely [4][6] - The leadership emphasized the importance of innovation and resilience in navigating a challenging macroeconomic environment [2][4]