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The Lenses & Optical Instruments division was a major contributor to the regional performance. In Bhutan, 30,000 pairs of glasses have been delivered to date to make this country the first in the world to eliminate poor vision. The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support These access points delivered vision solutions to 10.7 million new eyeglass wearers in 2019 alone, bringing the total for the past seven years to 33.5 million.These efforts earned EssilorLuxottica the 17th spot in Fortune Magazine’s annual Change the World list in 2019. In 2018, EssilorLuxottica had nearly 150,000 employees and pro forma consolidated revenues of approximately Euro 16.2 billion. They would aim at optimizing the Company’s global infrastructure. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. In 2019, Optical House generated around Euro 65 million of revenue. This section contains financial documents of Luxottica Group published until that date. removal of lenses laboratories from the stores). (c) Net Debt is presented in the Note 22 - Financial debt, including lease liabilities to the consolidated financial statements; its components are also reported in the paragraph Consolidated statement of financial position, Net Debt and cash flow. Charenton-le-Pont, France (May 16, 2019 – 8:00 pm) – EssilorLuxottica’s Annual General Meeting was held today at the Maison de la Mutualité in Paris, chaired by Leonardo Del Vecchio, Executive Chairman, and Hubert Sagnières, Executive Vice-Chairman, of EssilorLuxottica. Adjusted6 consolidated statement of profit or loss. © 2021 GlobeNewswire, Inc. All Rights Reserved. The Wholesale division closed the year with revenue up by 3.7% to Euro 3,260 million, or +1.8% at constant exchange rates2, the strongest pace since 2015 thus proving the effectiveness of the set of strategic initiatives undertaken. As for Asia, Oceania and Africa and Latin America, both the regions experienced a deceleration in the second half of 2019, mainly attributable to poor trends in Hong Kong and travel retail and a weakening performance in Mexico respectively. The brand notably solidified its leadership in fishing stores, selling to fishing enthusiasts and those living near beaches, lakes and rivers. Canada and sales of Transitions to other lens casters were headwinds while contact lens distribution activities added to growth. The transaction has been unconditionally cleared so far in the United States, Russia and Colombia, and it is currently under review also in Brazil, Chile, Mexico and Turkey.The Company is confident that Phase II will be completed in a timely manner and will closely cooperate with the European Commission to fully demonstrate the rationale of the proposed acquisition and the benefits that it will bring to customers, consumers and all the eyewear industry players. This reflected robust results in China, especially for Xiamen Yarui Optical (Bolon™) and strong market demand for readers and sunglasses at Costa and FGX International in the United States. Charenton-le-Pont, France (March 6, 2020 – 7:00am) - The Board of Directors of EssilorLuxottica met on March 5, 2020 to approve the consolidated financial statements for the year ended December 31, 2019. Synergies and integration The Company has started to drive integration and deliver revenue and cost synergies. 2017 Annual Report 982 KB. It continued to leverage its unique innovation capabilities in vision care and eyewear, its digital platforms and the flexibility provided by its global network of interconnected plants and prescription laboratories”, said Laurent Vacherot, CEO of Essilor. Group net debt amounted to Euro 4,046 million at the end of December 2019, compared to Euro 3,849 at the end of December 2018 (restated following the implementation of IFRS 16. EssilorLuxottica reported adjusted6 tax expense of Euro 618 million, reflecting an adjusted6 tax rate of 23.1% for 2019 compared to an adjusted6 tax rate of 24.1% in the prior year resulting from a more favorable geographical mix of earnings and from a positive closing of certain tax audits. Robust growth continued with Alliance members and Essilor Experts while key accounts expanded at a modest pace. Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux® and Transitions®, and world-class retail brands including Sunglass Hut and LensCrafters are part of the EssilorLuxottica family. EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. The Interim Financial Report can be downloaded from the Company's website, https://www.essilorluxottica.com/, in the "Investors / Publications and Downloads" section, or by clicking on: https://www.essilorluxottica.com/publications-and-downloads. Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP. Direct e-commerce grew double digit across all the platforms in the full year, mostly driven by North America that posted in the fourth the best quarter of the year. The steady growth posted by Europe was driven by volumes and benefited from the relentless evolution of STARS. In this same spirit of raising awareness on good vision, Essilor made presentations in different parts of the world to leverage the report it published on the sidelines of the last United Nations General Assembly session, entitled “Eliminating Poor Vision in a Generation: What will it take to eliminate uncorrected refractive errors by 2050?”. The direct e-commerce business had another exceptional quarter growing at 27% at constant exchange rates2 and all major websites contributed to the success. These successes, along with our outstanding cash flow generation of 1.2 billion Euro, were key contributors to EssilorLuxottica’s overall results for the year”, commented Francesco Milleri, Deputy Chairman and CEO of Luxottica. Fourth-quarter 2019 revenue by geographical area. Other financial expenses amounted to Euro 24 million and Share of profits of associates showed a loss of Euro 2 million. It will likely take several months to effectively recover them. *** Including Share of profit of associates. Weighted average number of shares outstanding: Earnings per share (EPS) for net profit attributable to owners of the parent: Net profit attributable to owners of the parent, Equity attributable to non-controlling interests, Expense arising from share-based payments, Disposal of property, plant and equipment and intangible assets, Acquisitions of businesses, net of cash acquired, Transactions with non-controlling interests, Cash payments for principal portion of lease liabilities, Issuance of bonds, private placements and other long-term debts, Repayment of bonds, private placements and other long-term debts, Changes in other current and non-current borrowings, Cash and cash equivalents at the beginning of the financial year, Effects of exchange rate changes on cash and cash equivalents, Strong revenue growth at constant exchange rates, Direct e-commerce, which represented around 5% of consolidated revenue, grew by 16% at constant exchange rates, On a geographical basis at constant exchange rates, Key investment fueled new product launches (notably Transitions. For Luxottica, in the fourth quarter the still sound performance of Brazil was counterbalanced by weakening result of Mexico, all in all ending up in flattish sales at constant exchange rates2 in the region. 2019 Annual Report. EssilorLuxottica: EssilorLuxottica 2019 Annual General Meeting EssilorLuxottica 2019 Annual General Meeting o Adoption of all Board’s resolutions at … Recently formed partnerships contributed to growth at constant exchange rates2, particularly in Mexico where sales expanded at a double-digit rate during the fourth quarter. 2018 was characterized by one-off investments for the new Logistics plant in Italy, the remaining portion of recurring investment is growing to support the group’s growth in the areas of IT and the development of the retail network. GrandVisionThe European Commission has initiated a Phase II review of the proposed acquisition of GrandVision. The following chart provides an overview of our shareholder structure as of 31 December, 2019: Approximately 1% of the share capital from our publicly-traded shares was owned by investors registered in The Netherlands, while 99% were owned by foreign investors at the end of 2019. EXCERPTS FROM THE RESTATED UNAUDITED PRO FORMA CONSOLIDATED FINANCIAL INFORMATION, EXCERPTS FROM THE CONSOLIDATED GROUP FINANCIAL STATEMENTS. It delivered double-digit growth in China, thanks to branded lenses (notably EyezenTM, Crizal® and Varilux®), instruments, myopia control solutions and innovation in the midrange. Income taxes are adjusted for an amount of Euro (74) million corresponding to the tax effect of the above-mentioned adjustments for Euro (27) million and to a non-recurring tax income of Euro (47) million. The Retail business had a strong year with Target Optical and EyeMed leading the way at double-digit sales growth. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. (a) The comparative period has been restated in accordance with the transitional requirements of the initial application of IFRS 16 – Leases, as well as to reflect the finalization of the purchase price allocation (“PPA”) related to the EL Combination. In particular, management adjusted the following measures: Gross profit, Operating expenses, Operating profit, Profit before taxes and Net profit. Legal action: Criminal charges have been filed against the perpetrators and beneficiaries of the fraud in jurisdictions, and all legal options for holding the relevant third parties liable are considered to allow the Company to obtain damages commensurate with the injury suffered. Adjusted6 net profit attributable to owners of the parent: +9.2% at current exchange rates and 4.8% at constant exchange rates2. This EssilorLuxottica business report presents the course of business throughout the respective business year 2019. So far, the virus has also slightly impacted the Company’s revenue performance in other regions. EssilorLuxottica Corporate Communications, (Charenton-le-Pont) Tel: + 33 1 49 77 42 16, (Charenton-le-Pont) Tel: + 33 1 49 77 45 02, EssilorLuxottica SA published this content on 31 July 2019 and is solely responsible for the information contained therein. 2019 is the first year in which EssilorLuxottica’s consolidated statement of profit or loss shows the full year performance of both Essilor’s and Luxottica’s businesses. Charenton-le-Pont, France (March 6, 2020 – 7:00am) - The Board of Directors of EssilorLuxottica met on March 5, 2020 to approve the consolidated financial statements for the year ended December 31, 2019. The overall increase in Cash and cash equivalents and Other current assets are mainly linked to the proceeds from the issuance of the 5 billion bonds occurred in November 2019 (as described in paragraph 1.2.2). The division showed strength across all regions through a continued focus on innovation, fast growing markets4 and e-commerce. The gross margin at Luxottica was broadly stable, despite the slight dilution generated by the fast-growing managed vision care business. In North America, Luxottica posted its best year since 2015 in terms of sales growth with Wholesale and Retail both accelerating in the fourth quarter. These efforts earned EssilorLuxottica the 17 th spot in Fortune Magazine’s annual Change the World list in 2019. FraudOn December 30, 2019, EssilorLuxottica announced that its subsidiary Essilor International discovered fraudulent financial activities in one of its plants in Thailand. It continued to diversify its distribution network in the United States and to expand its international and online operations.The Equipment division posted a modest decline for the year, owing mainly to softer fourth quarter dynamics, as key customers work to absorb capacity from recent investment programs. The Lenses & Optical instruments division posted another strong full year through a continued focus on its go to market strategy in the core United States lens business along with strong e-commerce growth. EssilorLuxottica: Publication of the 2019 Interim Financial Report Publication of the 2019 Interim Financial Report. Consolidated statement of financial position. In Nepal, the company signed a letter of intent to provide access to eye care to the 350,000 residents of the Bhaktapur district. In January, Essilor’s flagship inclusive business program Eye MitraTM – the world’s largest rural optical network – was featured at the World Economic Forum in Davos in a newly launched report called “Business as Unusual”. Access financial releases and publications of Essilor International (Compagnie Générale d’Optique) (renamed EssilorLuxottica on October 1st, 2018) prior to the combination and financial releases and publications of Luxottica (a 62% subsidiary of EssilorLuxottica, publicly listed on … Income taxes are adjusted for an amount of Euro (126) million corresponding to the tax effects of the above-mentioned adjustments for Euro (56) million and to the elimination of non-recurring net tax gains for Euro (70) million mainly due to i) the one-off recognition of deferred tax assets on tax losses carry forward in a Canadian entity following the merger of the Essilor and Luxottica entities in Canada into one tax group and to ii) the reimbursement granted from the Italian tax authorities on IRAP tax related to fiscal years 2014 to 2016. The dividend will be paid – or the shares issued – as from June 15, 2020. Recovery of misappropriated funds: The company progressed with freezing funds on different bank accounts in several jurisdictions. Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux® and Transitions®, and world-class retail brands including Sunglass Hut and LensCrafters are part of the EssilorLuxottica family. As the company had only been in existence since October 2018 the Annual report contains pro forma results on the basis that Essilor Luxottica had existed for the Full Year 2018. All major countries showed a positive evolution in the division, led by Sunglass Hut in Continental Europe and Salmoiraghi & Viganò in Italy. the elimination of a non-recurring net gain for Euro 46 million mainly related to the profit recorded from the sale of the Group’s 25% ownership in a US based entity and the sale of another investment. Financials and annual report of EssilorLuxottica SA. Trends were strong in Sunglasses & Readers. Major strides were also made in digital marketing with consumers in Mexico and Colombia now able to access the Spanish-language edition of the eye care information website “AllAboutVision.com”.The Sun & Readers division contributed modestly to regional growth.The Equipment division was a slight headwind to regional growth on a consolidated basis despite solid underlying activity as market conditions in fast growing markets remained favorable. 2016 ANNUAL REPORT 9.1 MB. 2016 ANNUAL REPORT. These efforts earned EssilorLuxottica the 17 th spot in Fortune Magazine’s annual Change the World list in 2019. The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. The Wholesale division saw robust trends in particular in Spain, Portugal, Greece, UK, Turkey and Eastern Europe. The brick and mortar stores were impacted by an unfavorable timeframe of the holiday season and lower traffic in the touristic locations, but the shortfall was made up online. Other non-GAAP measures such as EBITDA, Free Cash Flows, Net Debt and the ratio Net Debt to EBITDA are also included in this document in order to: Those other non-GAAP measures are not meant to be considered in isolation or as a substitute for items appearing in EssilorLuxottica’s consolidated financial statements prepared in accordance with IFRS. And in China, Essilor worked with the Huoqiu County to eliminate poor vision in the county within three years. As the company had only been in existence since October 2018 the Annual report contains pro forma results on the basis that Essilor Luxottica had existed for the Full Year 2018. Where to Invest $10,000; 50 Companies to Watch in 2018 ... 2019 – 7:00am) – EssilorLuxottica today announced that consolidated revenue for the first quarter of 2019 … These investments include mainly the effects of the business combinations completed in 2019, which include mainly Barberini S.p.A., the world's leading optical glass sun lens manufacturer, as well as the acquisitions of Brille 24 in the online business, Devlyn in Mexico, Future in Sweden, and Optimed in the instruments division. The report quantifies the scale of uncorrected poor vision in the world and recommends a cumulative investment of $14 billion over the next 30 years to eliminate it. Including synergies and at constant exchange rates2, it is projecting the following: In addition, due to the COVID-19 outbreak, the Company’s current expectation is for revenue growth to be below the annual trend in the first half of the year, followed by a recovery in the second half. With respect to products, performance was driven by digitalization, new generation surfacing machines and coating machines. The Lenses & Optical Instruments division grew by 5.5% at constant exchange rates2 in 2019, for total sales of Euro 6,791 million. The division also rolled out new technological advances and product ranges to independent laboratories to further support growth. These access points delivered vision solutions to 10.7 million new eyeglass wearers in 2019 alone, bringing the total for the past seven years to 33.5 million.These efforts earned EssilorLuxottica the 17th spot in Fortune Magazine’s annual Change the World list in 2019. The Lenses & Optical Instruments division delivered strong in the region, with business up sharply in China, South Korea, Southeast Asia and Japan. The Board of Directors has also approved the Restated Unaudited Pro Forma1 Consolidated Financial Information for the year ended December 31, 2018, which has been prepared for illustrative purposes only. Revenue in Japan got a lift from value-added lenses and a series of commercial successes with optical chains.The Sunglasses & Readers division also saw double-digit revenue growth in the region with excellent results at Xiamen Yarui Optical (BolonTM and MolsionTM) in optical frames and robust online sales. Revenues of EssilorLuxottica 2019-2020 Percentage change in revenues of EssilorLuxottica 2020, by geographical area. And in February, Essilor pledged to donate 1 million eyeglasses and sunglasses to the United Nations Road Safety Fund (UNSRF). distribution of exceptional bonuses to French employees for Euro 2 million. Non-recurring General and administrative expenses for Euro 199 million associated with the following impacts: non-recurring costs related to restructuring and reorganization projects aiming at increasing the Group’s operational and organizational efficiency for Euro 71 million; the non-recurring costs mainly refer to severance, accelerated depreciation and write-off; non-recurring expenses related to M&A projects for Euro 21 million mainly linked to the transactions costs incurred in connection with GrandVision N. V. proposed acquisition announced on July 31, 2019, and to the acquisition of Barberini completed in August 2019; one-off costs incurred by the Group for Euro 36 million, including transaction costs linked to the finalization of the MTO and delisting of Luxottica shares and other one-off integration costs; expenses related to share-based payments for about Euro 65 million linked to the removal of the performance conditions from the 2015 and 2016 Essilor’s share-based plans, the international employee shareholding plan extended to Luxottica employees in late 2019 and to Luxottica’s restricted shares plan (LTI); non-recurring expenses for Euro 6 million incurred in connection with the settlement of a commercial litigation. Retail sales increased soundly in the quarter in high-single digit area, posting its 24th consecutive quarter of turnover expansion. FraudThe Company announced on December 30, 2019 that it had discovered fraudulent financial activity at an Essilor plant in Thailand. Luxottica’s turnover in Europe kept expanding in the last quarter of the year. EssilorLuxottica shareholders The issuance of the Euro 5 billion bond in November did not have a material impact in 2019. The crisis of Sears had a significant impact on the overall performance of the Retail business leading to the decision to exit the banner by the end January 2020. Internal action: Internal controls and security measures have been tightened across the global operations. Revenue for the year totaled Euro 17,390 million, an increase of 7.4% in current exchange rates and 4.4% in constant exchange rates2 when compared to 2018. These decisions include: Essilor has created more than 15,000 inclusive businesses worldwide since 2013, which have the potential to give more than 300 million people access to vision health. Goodwill increased by Euro 588 million, of which Euro 206 million resulting from acquisitions made in 2019, and Euro 382 million resulting from foreign currency fluctuations (including foreign currency fluctuations on the goodwill arising from the EssilorLuxottica Combination, amounting to Euro 333 million). Date Title Online version PDF; 5 Aug 2020: Half Year 2020 Financial Report: n.a. The second half of the year decelerated versus the first, particularly due to weaker Wholesale in the third quarter (mostly reflecting political turmoil in Hong Kong, dropping travel retail business and unfavorable weather conditions in Japan), but turning positive in the fourth quarter. On the Retail side, sales were up mid-single digit, led by LensCrafters delivering strong results especially during the ramp up towards the end of the insurance year. Sunglass Hut confirmed its healthy growth trajectory, growing at mid-single digit in comparable sales5 in Continental Europe and with 21 successful new openings during the year. ... EssilorLuxottica’s interest in GrandVision is a clear recognition and validation of our successful strategy, state-of-the-art retail platform and talented people. The major transactions are indicated in the table below. The ranking was recognition of the company’s commitment to bring good vision to everyone everywhere and eliminate poor vision around the world as part of its mission to “see more, be more and live life to its fullest”. Posted positive performance building on a worldwide network of plants and laboratories which. Is a clear recognition and validation of our successful strategy, state-of-the-art Retail platform and talented people s performance! % of revenue integration the Company signed a letter of intent to provide access to eye care to success! 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