EssilorLuxottica consolidated statement of profit or loss. EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Performance was stronger in the second half owing to the launch of Transitions® Signature® GEN 8™. On 31 July, 2019 GrandVision N.V. announced that EssilorLuxottica S.A. and HAL Optical Investments B.V. have reached an agreement for the sale of HAL’s 76.72% ownership interest in GrandVision (the 'Block Trade Agreement'). In addition, strong market demand for readers and sunglasses allowed FGX International to make up in the second half for the impact of a demanding comparison basis in the first six months. The Statutory Auditors have performed a … The following table provides a reconciliation of those non-GAAP measures to the most directly comparable IFRS financial measures. The Retail division was up 8.0% in revenue to Euro 6,232 million in the full year, or +4.0% at constant exchange rates2, with accelerating momentum in the fourth quarter. On March 5, 2019, Luxottica became 100% wholly-owned by EssilorLuxottica and its ordinary shares were delisted from the Milan Stock Exchange (Mercato Telematico Azionario - MTA), organized and managed by Borsa Italiana. © 2021 GlobeNewswire, Inc. All Rights Reserved. The Sunglasses & Readers division contributed modestly to regional growth during the quarter. Adjusted6 net profit attributable to the owners of the parent of Euro 1,938 million represents an increase of 9.2%1 compared to the prior year (4.8%1 at constant exchange rates2). 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. In 2018, EssilorLuxottica had nearly 150,000 employees and pro forma consolidated revenues of approximately Euro 16.2 billion. It confirms that the net impact of those synergies on adjusted6 operating profit is expected to be in the range of: In 2019, the first synergies generated as part of this plan were in line with internal expectations. Publication of the 2019 Interim Financial Report Charenton-le-Pont,France - The Board of Directors of EssilorLuxottica met yesterday to approve the condensed... | December 12, 2020 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. The EssilorLuxottica 2019 Interim Financial Report has been published today. Webcasts; Archive. Wholesale growth was basically driven by Mainland China, where the business restarted on much cleaner basis. Until 2019, the brand was under the Luxottica Group. 2013 Annual Report. Adjusted6 Gross profit in 2019 ended at Euro 10,887 million, representing 62.6% of revenue versus 63.0% in 2018. And in China, Essilor worked with the Huoqiu County to eliminate poor vision in the county within three years. At the current level, inventory is sufficient to meet several weeks of demand.In terms of production, EssilorLuxottica plants in China are currently operating at a slightly reduced capacity which is quickly normalizing, while the plants in Italy and all other locations are currently running at full capacity. Sunglass Hut posted positive performance building on a winning omnichannel proposition, further articulated and resonating well with its customers. *** Including Share of profit of associates. Charenton-le-Pont, France (March 8, 2019) - The Board of Directors of EssilorLuxottica met on March 7, 2019 to approve the financial statements for 2018. 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”. (b) As presented in the consolidated statement of profit or loss. General and administrative costs totaled Euro 1,777 million reflecting EssilorLuxottica’s strong cost control measures, particularly effective during the second half of the year. The Lenses & Optical Instruments division was a major contributor to the regional performance. Financial statements and reports for EssilorLuxottica EUR 0.35 including annual reports and financial results for the last 5 years. Adjusted6 net profit attributable to owners of the parent: +9.2% at current exchange rates and 4.8% at constant exchange rates2. 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 essilorluxottica X This website or third-party tools used by the site itself use the cookies necessary for operation and useful for the objectives illustrated in the cookie policy, including the possibility of sending you advertisements according to your interests. The company brings together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear, to set new industry standards for vision care and the consumer experience around it. SEC Filings & 20 F; Results and presentations. Other current liabilities decreased by Euro 1,157 million, of which 1,667 million are link to the short-term put option representing EssilorLuxottica’s obligation to purchase against cash all Luxottica shares not already held by the Group as of December 31, 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 … 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.In 2019, Essilor worked toward this goal through partnerships to eliminate poor vision in many regions. In 2019, EssilorLuxottica’s full year revenues grew by 7.4% compared to prior-year pro forma1 revenue (4.4% at constant exchange rates2). Both Luxottica divisions posted the best quarter of the year. Euro 300 to Euro 350 million in the period 2019-2021; Euro 420 to Euro 600 million by 2022-2023. EssilorLuxottica published an Annual Report for 2018 in April 2019. 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”. The abovementioned political unrests in Chile and Ecuador affected the sales performance of GMO in the last quarter of the year, negative in sales and comparable store sales5. Cost of net debt is adjusted for Euro 9 million corresponding mainly to non-recurring financial expenses linked to early repayment of debt at Luxottica level in the context of the restructuring and centralization of financial debt at EssilorLuxottica level. 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. Gains were driven by value-added lenses, especially progressive lenses. The comparability in 2019 consolidated financial statements is still affected by the EL Combination which occurred on October 1, 2018. During the fourth quarter the sales drop was amplified at Sears Optical. 2015 ANNUAL REPORT. 1 Barberini S.p.A. annual consolidated revenue on a stand-alone basis, as disclosed at the time of the announcement of the acquisition (on June 22, 2019), which does not represent the net contribution to the EssilorLuxottica Group’s turnover. Financial investments Financial investments net of cash acquired amounted to Euro 370 million in 2019, compared to Euro 289 million in 2018. Furthermore, EssilorLuxottica shareholders rejected two additional resolutions, which had been added on the agenda of the Annual General Meeting following requests from some of the Company’s shareholders received on April 18, 2019. DividendThe Board of Directors will recommend that shareholders at the Annual Meeting to be held on May 15, 2020 approve the payment of a dividend of Euro 2.23 per share. On the opposite, Hong Kong did not improve, deteriorating further in Retail sales and comparable store sales5. 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. Key milestones in 2019 included the launch of Transitions® Signature® GEN 8TM in the US market, the success of the Vision-R™ 800 phoropter in Europe, double-digit growth both in China, thanks to branded lenses (notably EyezenTM, Crizal® and Varilux®), and Latin America owing to market expansion activities and a new partnership with a key player in the region. (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. 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. In 2019, EssilorLuxottica had more than 150,000 employees and consolidated revenues of Euro 17.4 billion. Essilor, for its part, performed strongly. In North America all the networks contributed to the division growth, in particular the Optical Retail Business led the growth with LensCrafters posting the strongest quarter of the year (thanks to a healthy insurance week and a strong price-mix), a solid contribution from the insurance business unit Eye Med as well as Target Optical and Pearle Vision. Adjusted6 consolidated statement of profit or loss. FraudThe Company announced on December 30, 2019 that it had discovered fraudulent financial activity at an Essilor plant in Thailand. EssilorLuxottica can rely on a worldwide network of plants and laboratories, which allow flexibility and continuity. The issuance of the Euro 5 billion bond in November did not have a material impact in 2019. Similar to the full year trend, contact lens distribution activities contributed to growth.Sunglasses & Readers performance in the United States was driven primarily by FGX during the fourth quarter.Trends in the Equipment division moderated after a particularly strong third quarter and an elevated prior year comparison base. EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. 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. The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. COVID-19The current COVID-19 epidemic has a negative impact on the Company’s business in Greater China, which represents approximately 5% of consolidated revenue. The Wholesale channel showed steadily growth over the year, supported by volumes expansion. This translated into strong revenue, free cash flow and net profit growth, in line with guidance. The dividend will be paid – or the shares issued – as from June 15, 2020. Intangible, Tangible and Right-of-use are mainly related to intangible assets recognized as part of the purchase price allocation finalized on the EssilorLuxottica Combination for around Euro 11 billion and to the right-of-use assets recognized following the implementation of the new accounting standard IFRS 16 Leases. In 2019, Optical House generated around Euro 65 million of revenue. The Company’s adjusted6 gross profit as a percent of sales came in at 62.6% while adjusted6 operating profit was stable at 16.2% of sales. EssilorLuxottica: Publication of the 2019 Interim Financial Report Publication of the 2019 Interim Financial Report. Revenues of EssilorLuxottica 2019-2020 Percentage change in revenues of EssilorLuxottica 2020, by geographical area. The combination of Essilor and Luxottica (the “EL Combination”), as well as events that are unusual, infrequent or unrelated to normal operations, have a significant impact on the consolidated results. However, since the 2018 information presented in the statement of profit or loss is affected by the accounting of the combination between Essilor and Luxottica, the financial information deemed relevant to compare 2019 performance is based on the restated pro forma1 information for the year ended December 31, 2018. Net cash flow provided by operating activities, Purchase of property, plant and equipment and intangible assets, Cash payments for the principal portion of lease liabilities, Non-current borrowings and lease liabilities, Short-term borrowings and lease liabilities, Interest Rate Swap measured at fair value, Lease liabilities (current and non-current), Change in Net Debt (excluding lease liabilities), Acquisition and other investments, net of disposals, Property, plant and equipment and intangible assets (gross of disposals), Financial investments net of cash acquired, Integrated prescription laboratory operating optical stores, Online retail platform for optical products. This has been defined as a priority and will be monitored as such. These adjustments are described below. removal of lenses laboratories from the stores). In Asia, Oceania and Africa, revenue increased by 7.4% to Euro 2,892 million (+5.4% at constant exchange rates2). A dedicated team was set up, reporting to the CEO of Essilor International, to take action in three key areas: Additional measures have been initiated and are in the process of being implemented to enhance the Group’s control environment. Ariel Bauer is appointed co-Head of Investor Relations of EssilorLuxottica alongside Giorgio Iannella, in replacement of Véronique Gillet. 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 … On a consolidated financial basis, Europe and Asia contributed to growth while North America and Latin America were headwinds. On a global basis, the program is now comprised of approximately 16,600 doors, representing over 13% of sales for the Wholesale division. Non-recurring General and administrative expenses for Euro 278 million associated with the following impacts: total transaction costs related to the combination of Essilor and Luxottica for Euro 158 million (of which Euro 128 million incurred in 2017, Euro 22 million incurred in 2018 and Euro 8 million in 2019); non-recurring costs of Euro 77 million mainly linked to the removal of the performance conditions from the 2015 and 2016 share-based plans authorized by the Essilor Annual General Meeting of May 2017, less Euro 5 million adjustment related to the valuation of Essilor’s share-based payments; restructuring and reorganization expenses for Euro 48 million. It includes the overall revenue of the company, considering not only the sales of finished goods, but all of the sources of the company income. These efforts earned EssilorLuxottica the 17 th spot in Fortune Magazine’s annual Change the World list in 2019. Charenton-le-Pont,France (July 31, 2019) - The Board of Directors of EssilorLuxottica met yesterday to approve the condensed consolidated interim financial statements for the six-month period ended June 30, 2019 and the unaudited pro forma condensed consolidated interim financial Information, which has been prepared for illustrative purposes only for the six-month period ended June 30, 2018. FraudOn December 30, 2019, EssilorLuxottica announced that its subsidiary Essilor International discovered fraudulent financial activities in one of its plants in Thailand. Full year 2019 growth was further boosted by robust engagement with Luxottica both for select key accounts and sales of value added lenses though the Group’s retail channels. The financial impact has been fully recorded in the 2019 consolidated statement of profit or loss for an amount of Euro 185 million after taking into account foreign exchanges impacts; The Company launched a bond issuance for a total amount of Euro 5 billion, notably to (re)finance a portion of the consideration to be paid in relation to the proposed acquisition of GrandVision, to (re)finance the existing debt of the Company and to fund general corporate purposes. Capital expenditure In the industrial sector, cash out related to capital expenditures amounted to Euro 903 million in 2019, 5.2% of net sales, compared to Euro 927 million in the previous year. (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. Growth in the Lenses & Optical Instruments division remained in double digits at constant exchange rates2 through a mix of strong underlying trends and new partnerships. In Latin America, revenue increased by 0.9% to Euro 304 million (+3.8% at constant exchange rates2). In addition, structural decisions were made during the year to create a strong foundation for further integration and accelerate synergy delivery in 2020 and 2021, in line with the plan. share these measures with all investors at the same time. Furthermore, e-commerce sales were once again buoyant for the division, with revenue ending the period up by more than 20% on a like-for-like3 basis.Lastly, in keeping with the commitments made to Turkish antitrust authorities at the time of the combination with Luxottica, Essilor divested its subsidiary Merve, which markets sunglasses to consumers in Turkey. 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. 2017 Annual Report 982 KB. LensCrafters closed the year on a positive note benefitting from an expanding store remodeling program and a favorable price-mix boosted by a higher penetration of value-added lenses. Conference callA conference call in English will be held today at 11 am CET.The meeting will be available live and on a replay mode at:https://channel.royalcast.com/webcast/essilorluxotticaen/20200306_1/. The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. ; Bloomberg: EL: FP business Report presents the course of.... 971 million ( +4.3 % at constant exchange rates2 ) the sound execution all. 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