Revenue development

Revenue increased by 13.8% to €3,205 million in 2015 (2014: €2,817 million). At constant exchange rates, revenue grew by 13.2% as foreign exchange fluctuations had a positive effect of 0.6% on revenue.

Revenue growth was driven by organic growth of 5.3%, while acquisitions had a positive impact of 7.9% on revenue. The main driver of organic growth was comparable growth, which was achieved in all three regional segments and also in all product categories: prescription eyeglasses, contact lenses and sunglasses.

The G4 segment achieved revenue growth of 8.6% or 6.1% at constant exchange rates, mainly driven by comparable growth of 4.1% and continued store network expansion. In Other Europe, revenue grew by 19.5% or 20.8% at constant exchange rates, with organic growth of 4.3% and a 16.5% effect from the acquisition of Randazzo in Italy at the end of 2014. The Americas & Asia segment saw revenue growth of 33.6% or 40.6% at constant exchange rates. Organic growth in the segment was 11.1%. Revenue also included a 29.6% effect from acquisitions completed during 2014 as well as a small effect from the U.S. business, which was acquired in December 2015.

Sales of prescription glasses were positively impacted by commercial performance, enhancing conversion rates and customer loyalty. The benefits of global purchasing as well as the centralization of the supply chain and category management resulted in savings that were largely reinvested in improving the competitiveness of our commercial proposition.

Contact lenses continued to benefit from increasing consumer demand for daily disposable contact lenses. The proportion of sunglasses in the overall revenue slightly increased in 2015, driven by comparable growth, the further roll out of the Solaris store-in-store concept as well as the acquisitions in Italy and Turkey, which have a higher than average sunglass share.

Revenue development

in millions of EUR
(unless stated otherwise)

2015

2014

Change
versus
prior year

Change at
constant FX

Organic
growth

Growth from acquisitions

G4

1,976

1,820

8.6%

6.1%

4.9%

1.3%

Other Europe

875

732

19.5%

20.8%

4.3%

16.5%

Americas & Asia

354

265

33.6%

40.6%

11.1%

29.6%

Total

3,205

2,817

13.8%

13.2%

5.3%

7.9%