During the fourth quarter the sales drop was amplified at Sears Optical. Publication of the 2019 Interim Financial Report Charenton-le-Pont, France (July 31, 2019) - The Board of Directors of EssilorLuxottica met yesterday to approve the condensed. EssilorLuxottica’s revenue amounted to Euro 17,390 million and increased by 4.4% at constant exchange rates2 in 2019, in the upper half of the Group’s 3.5% to 5% outlook. Distributed by Public, unedited and unaltered, on 31 July 2019 17:29:05 UTC, Italy's Del Vecchio leads UniCredit investor opposition to MPS deal -sources, Consumer Cos Fall As Stimulus Negotiations Drag On -- Consumer Roundup, Chief Executive Officer & Non-Independent Director. In Latin America, revenue increased by 7.7% to Euro 1,108 million (+9.5% at constant exchange rates2). 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. And in China, Essilor worked with the Huoqiu County to eliminate poor vision in the county within three years. Along with growing and improving our profits, we set a new standard for the way technology can elevate an entire organization, from online sales growth to our deep connections with consumers across every channel. This also includes, to a lesser extent, price supplements on acquisitions completed prior to 2019. In 2019, EssilorLuxottica had over 150,000 employees and consolidated revenues of Euro 17.4 billion. 2014 Annual Report. 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 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. Trends were strong in Sunglasses & Readers. 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. Sustainability Report 2019 Bringing together traditional craftsmanship and state-of-the-art innovation, our affordable jewellery is made to the highest environmental and ethical standards. Defining one single IT platform to be rolled out across the Company, after the ongoing pilot project in Italy; Creating one single network of prescription laboratories, as part of an integrated supply chain; Establishing a unified platform for the provision of complete pairs of branded glasses, starting with the availability of full prescription products under the Ray-Ban brand both in the clear and sun segments; The full integration of Costa into the brand portfolio of Luxottica; A common employee shareholding plan, which was extended to Luxottica employees in Italy in 2019 with a subscription rate of over 67%. The comparability in 2019 consolidated financial statements is still affected by the EL Combination which occurred on October 1, 2018. All these measures are aimed at reducing the overall financial impact for the Company, from the Euro 185 million currently recorded in its accounts. The dividend will be paid – or the shares issued – as from June 15, 2020. In 2019, Europe continued to contribute to the overall Luxottica growth, with a positive evolution at both Wholesale and Retail divisions, supported by best-selling proprietary brands (also online) as well as main luxury licenses. This divestment was a requirement from the Turkish Competition Authority (TCA) as a remedy from the combination between Essilor and Luxottica. EssilorLuxottica can rely on a worldwide network of plants and laboratories, which allow flexibility and continuity. The Lenses & Optical Instruments division delivered strong in the region, with business up sharply in China, South Korea, Southeast Asia and Japan. 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. E-commerce activity in Brazil supported regional growth. 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. 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. So far, the virus has also slightly impacted the Company’s revenue performance in other regions. Target Optical and EyeMed confirmed their sound growth path, while Sears continued to be a heavy drag. 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. Publication of the 2019 Interim Financial Report Charenton-le-Pont, France (July 31, 2019) - The Board of Directors of EssilorLuxottica met yesterday to approve the condensed. Synergies and integration The Company has started to drive integration and deliver revenue and cost synergies. Among major countries, Italy, Germany, Turkey and Eastern Europe outperformed other markets. (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. Consolidated statement of financial position. Cost of net debt is adjusted for Euro 5 million corresponding to a non-recurring financial expense linked to early repayment of debt. 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. And in February, Essilor pledged to donate 1 million eyeglasses and sunglasses to the United Nations Road Safety Fund (UNSRF). 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. EssilorLuxottica’s revenue increased by 4.5% at constant exchange rates2 during the fourth quarter of 2019. 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'). Since then, Essilor International has implemented a wide range of corrective measures under the supervision of the EssilorLuxottica Board of Directors (see page 28 for more details). The order book ended the year slightly up. Based on this assumption, and excluding any contribution from GrandVision, EssilorLuxottica expects to grow in sales and profits. 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. In Europe revenue increased by 5.7% to Euro 971 million (+4.9% at constant exchange rates2). 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. 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. Fourth-quarter 2019 revenue by operating segment. Luxottica’s regional sales accelerated in the fourth versus the third quarter, driven by Australia, Mainland China and South East Asia. Fourth-quarter 2019 revenue by geographical area. 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. The benefit from the consolidation of Barberini weighted to a smaller extent. Non-recurring expenses for Euro 36 million accounted for in Other income / (expenses) including: loss on assets disposal for Euro 5 million following the request from the Turkish Antitrust authorities to divest Merve as a condition precedent to approve the combination of Essilor and Luxottica; net loss impact of the change in consolidation scope of one entity for Euro 24 million; net negative impact of Euro 5 million related to other non-recurring transactions mainly linked to significant claims and litigations; and. In particular, the expenses adjusted in 2018 consist of write-off of the equipment and stock affected by those restructuring and reorganization projects, as well as the related logistic costs incurred. 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. The Group also launched new campaigns and partnerships for its top brands in frames and retail banners (Sunglass Hut returning to television after three years, Oakley becoming an official sponsor to the NFL and Ray-Ban launching a successful Sun Campaign). Careers The Sunglasses & Readers division performed well in 2019, with revenue rising 12.5% to Euro 885 million (+8.9% at constant exchange rates2). 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. Optical HouseOn January 3, 2020, EssilorLuxottica completed the purchase of a 51% stake in Optical House, the leader in the optical market in Ukraine. On a consolidated financial basis, Europe and Asia contributed to growth while North America and Latin America were headwinds. ... EssilorLuxottica’s interest in GrandVision is a clear recognition and validation of our successful strategy, state-of-the-art retail platform and talented people. Both Luxottica divisions posted the best quarter of the year. 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. The proprietary e-commerce platforms delivered exceptional growth, with a further acceleration in the fourth quarter. The brand notably solidified its leadership in fishing stores, selling to fishing enthusiasts and those living near beaches, lakes and rivers. 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. 2018 Annual Report. (a) As presented in the consolidated statement of cash flows. 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”. In Asia, Oceania and Africa revenue increased by 6.8% to Euro 756 million (+5.0% at constant exchange rates2). 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. 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. These efforts earned EssilorLuxottica the 17 th spot in Fortune Magazine’s annual Change the World list in 2019. 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. 2015 ANNUAL REPORT 4.3 MB. 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. Selling costs of Euro 4,595 million to support EssilorLuxottica’s top line growth, positively impacted by the winding down of legacy operations at Sears Optical Retail. 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. 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