EssilorLuxottica (EL) AGM 2026 summary

Opening remarks and agenda

• The meeting opened with a welcome to shareholders, highlighting record growth in 2025 and the company's transformation into a MedTech and data-driven group.

• The agenda included presentations on financial results, sustainability, MedTech transition, remuneration, statutory audit, vision care, scientific innovation, and compensation policies, followed by a Q&A and voting on 30 resolutions.

Financial performance review

• Revenue/net sales grew 11.2% at constant currency in 2025, reaching a record €28.5 billion.

• Adjusted operating margin was 16.0%, down 70 basis points due to US tariffs and AI glasses growth.

• Adjusted group net profit margin stood at 11.3%; free cash flow hit a record €2.8 billion, €400 million higher than 2024.

• All major regions delivered double-digit growth at constant currency, except Latin America (high single-digit), with EMEA and North America leading.

• Currency headwinds, especially USD devaluation, impacted reported results.

Board and executive committee updates

• Board independence stands at 58%, with 42% women and five nationalities represented.

• Staggered board renewal structure ensures continuity, with eight directors up for renewal this year or in 2026.

• Nearly 100,000 employees are shareholders, representing 4.4% of share capital across 85 countries.