Alcon remains on course for growth in the second quarter
Published: Tuesday, Aug 20th 2024, 23:00
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The eye care group Alcon continued to grow between April and June. The Group also increased its profit.
Specifically, the US-Swiss company achieved a turnover of 2.48 billion dollars in the second quarter of 2024. This corresponds to an increase of a good 3 percent, as the company announced on Tuesday after the US stock exchange closed.
Exchange rate effects depressed sales somewhat. In local currency terms, this would have resulted in an increase of around 6 percent, according to reports. The Group had already achieved growth of this magnitude in the first quarter.
Economies of scale help
Alcon also improved its profit thanks to economies of scale. At 19.8%, the core margin as a measure of profitability was slightly below the previous year's figure, with exchange rate developments having a negative impact. The bottom line, however, was a significantly higher quarterly profit of USD 223 million, compared to USD 169 million in the previous year. Core earnings per share amounted to 74 cents after 69 cents in the previous year.
Some of the figures were roughly in line with analysts' expectations (AWP consensus), while others fell just short of them.
Company boss David Endicott spoke of a "solid result". Demand for the products was robust.
In its outlook, the company confirms most of its targets for the year as a whole. Alcon continues to expect full-year sales of between USD 9.9 and 10.1 billion and organic growth of 7 to 9 percent. The core EBITDA margin is expected to be between 20.5 and 21.5 percent and core earnings per share (core) between 3.00 and 3.10 dollars.
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