Essilor: Pursuing its ambitious external growth strategy in emerging countries

BUY, Fair Value EUR80 (+5%)

News published on January Tuesday 22, 2013
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This morning Essilor announced 5 new operations (cumulative sales of EUR71m): two in North Africa, one in Colombia, one in China and one in Turkey. Essilor is clearly ramping up its footprint in emerging countries (EM), the latter accounted for 18% of 9M 12 sales vs. 15% in 2011, and is well on track to reach its 2015 guidance of EUR1.5bn of sales in EM or 25% of group’s sales (vs. EUR612m in 2011).

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