Alcon: negative impact of currencies

Alcon, the world leader in eye care, published revenue below expectations for the 3rd quarter of 2023. Furthermore, the guidance for the full year was reduced to the bottom of the previously given range. The main reason, according to the group’s management is the negative impact of the Swiss franc’s strength. That said, although below probably overly optimistic expectations, the company’s sales grew by +8% and the operating margin improved compared to last year. The “eye care” segment grew by +13%. As for the “surgical equipment” division, its growth of +5% is in line with the market. Management therefore looks ahead to 2024 with confidence, thanks to the fundamental trend that underpins growth in the eye care sector, as well as the robust pipeline of innovative products that Alcon will bring to market.