Essilorluxottica

EL: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€829.43	Cqg	Vzbktphqs

EssilorLuxottica's Results as Expected; Fair Value Estimate Maintained

Jelena Sokolova

Mar 12, 2021

We are retaining our fair value estimate for wide-moat EssilorLuxottica after the company reported an in line set of numbers for 2020. Revenue dropped 17% for 2020, or 14.6% at constant exchange rate and operating margin came at 9.5% versus the 9.1% we forecast.

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