So far, the virus has also slightly impacted the Company's revenue performance in other regions. 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 Statutory Auditors have performed a … The division also rolled out new technological advances and product ranges to independent laboratories to further support growth. 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. 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 … It can be downloaded from the Company’s website, www.essilor.com, in the “Investors / Publications and Downloads” section, or by clicking on: https://www.essilor.com/en/investors/publications-and-downloads/, Investor Relations and Financial Communications The following table provides a reconciliation of those non-GAAP measures to the most directly comparable IFRS financial measures. The Company's financial objectives for 2020 assume that the COVID-19 outbreak will subside in the next few months. Operating cash-flow before changes in working capital amounted to Euro 3,351 in 2019. A world first, the latter radically changes the eye exam process and customer experience, allowing measurement up to 0.01 diopter versus 0.25 diopter with other machines on the market. In North America revenue increased by 8.5% to Euro 9,154 million (+3.1% at constant exchange rates2). 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. Performance of the sun category stood out in the fourth quarter. Annual Reports and Publications 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. 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. 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. 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. 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 17 th spot in Fortune Magazine's annual Change the World list in 2019. The Board of Directors has also approved the Restated Unaudited. On December 5, 2019, EssilorLuxottica announced the closing of the disposal of its 100% stake in Merve Optik in Turkey. The gross margin at Luxottica was broadly stable, despite the slight dilution generated by the fast- growing managed vision care business. Additional funds are currently being traced. Partnerships were also launched with governmental ministries in France, Kenya and India to promote eye exams and raise awareness about the importance of visual health in schools or among underprivileged children (see page 15 for more details). Request Information. Where to Invest $10,000 ... May 31, 2019 /PRNewswire/ -- FGX International, a leading eyewear designer and marketer, is celebrating the 90 ^th Anniversary of … The lens strategy in the United States, led by key brands and innovation, partnerships with Independent Eyecare Professionals (ECP) and key accounts, continued to deliver results. EssilorLuxottica's revenue increased by 4.5% at constant exchange rates2 during the fourth quarter of 2019. Such measures are not defined terms under IFRS and their definitions should be carefully reviewed and understood by investors. Strong foundation to accelerate synergy delivery. The 2018 comparative information has been restated following the application of IFRS 16 Leases, as well as to reflect the finalization of the purchase price allocation ("PPA") related to the EssilorLuxottica Combination. Adjusted6 Operating expenses: +6.4% at current exchange rates and +3.5% at constant exchange rates2. The Lenses & Optical Instruments division generated significantly improved growth at constant exchange rates2 for the full year 2019 when compared to 2018 consisting of balanced growth in Brazil and Spanish speaking markets through most of the year. The Company announced on December 30, 2019 that it had discovered fraudulent financial activity at an Essilor plant in Thailand. All major countries showed a positive evolution in the division, led by Sunglass Hut in Continental Europe and Salmoiraghi & Viganò in Italy. Growth in E-commerce sales was satisfactory, especially for contact lenses distributed through the VisionDirect website. • Until May 31, 2019 (5 months): €1,150,000 • As from June 1, 2019 (7 months): €1,000,000 following the delegation of authority announced at the 2019 Annual General Meeting (2) At the Board of Directors’ Meeting of March 5, 2020, Leonardo Del Vecchio declared his intention to waive his variable component for 2019 in Essilor International was excluded following their merger. Thanks to its long-term investment strategy, balanced portfolio, international footprint and globally oriented value chains, the ZEISS Group can look forward to a bright future. In Europe revenue increased by 5.7% to Euro 971 million (+4.9% at constant exchange rates2). Based on this assumption, and excluding any contribution from GrandVision, EssilorLuxottica expects to grow in sales and profits. 2019/05/27 Time period. Within the Sunglasses & Readers division, FGX International delivered robust sales, notably in the United Kingdom and Germany. The division strengthened its positions in the Chinese sunwear market, its main market in the region. 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 European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. Retail sales increased soundly in the quarter in high-single digit area, posting its 24th consecutive quarter of turnover expansion. Financial Press Releases. 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. These financial statements were audited by the Statutory Auditors whose certification report is in the process of being issued. Charenton-le-Pont, France (July 26, 2018 – 6:30 am) – The Essilor International (Compagnie Générale d’Optique) 2018 Interim Financial Report is being published today. The dividend will be paid - or the shares issued - as from June 15, 2020. 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. Finally, Persol opened its first store in Europe (in Milan). News / 2020.12.17. 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. 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. 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. In 2019, Essilor worked toward this goal through partnerships to eliminate poor vision in many regions. The second half of the year slightly slowed down compared to the first, mostly due to a weakening performance in the fourth quarter in Mexico. In Europe Sunglass Hut and Salmoiraghi & Viganò kept nicely growing, like both optical and sun business did in Australia and sun in Brazil. The Sunglasses & Readers division performed well in 2019, with revenue rising 12.5% to Euro 885 million (+8.9% at constant exchange rates2). Oakley eyewear experienced a relevant uplift from the partnership with the NFL (with its testimonial Patrick Mahomes winning the Superbowl and the related MVP trophy), posting mid-single digit growth in the second half of the year. Over the course of 2019, Essilor worked toward this goal through partnerships to eliminate poor vision in many regions. The company has been plagued by a power struggle since French lens-maker Essilor International Inc. agreed to combine with Italian counterpart Luxottica Group SpA in 2017. EssilorLuxottica completed 29 transactions in 2019, representing full-year revenue of close to Euro 218 million. 2019 Revenue: $8.67 billion Number of Employees: 69,000 Revenue per Employee: $125,000 Essilor is a French-based company that specializes in lens manufacture – they are the biggest producer of ophthalmic lenses in the world. 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. It advanced on its Mission and delivered innovative products at every price point to customers and consumers worldwide while generating profitable growth. Financial schedules and Non-GAAP reconciliations by quarter. In Latin America, revenue increased by 7.7% to Euro 1,108 million (+9.5% at constant exchange rates2). 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. Sales in Europe were also supported by the growth around double-digit of the Retail division, on the back of effective in-store execution empowering positive results in all countries. David Wielemans is appointed co-CFO of EssilorLuxottica alongside Stefano Grassi, in replacement of Hilary Halper. Financial investments net of cash acquired, plus debt of. This also includes, to a lesser extent, price supplements on acquisitions completed prior to 2019. 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. 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, EssilorLuxottica's full year revenues grew by 7.4% compared to prior-year pro forma1 revenue (4.4% at constant exchange rates2). For better navigation,we recommend viewing the sitein portrait mode, VISUAL HEALTH, A MAJOR PUBLIC HEALTH CONCERN, Addressing the global need and reaching the 2.7 billion underserved, VISUAL HEALTH, A MAJOR PUBLIC HEALTH CONCERN, #02 Presbyopia: Improving vision for today’s consumers & lifestyles. During the fourth quarter the sales drop was amplified at Sears Optical. 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. Hong Kong retail remained negative, for the fourth consecutive year. This translated into strong revenue, free cash flow and net profit growth, in line with guidance. Baxter International Inc. has reached its limit for free report views. Strong revenue growth at constant exchange rates, On a geographical basis at constant exchange rates, Key investment fueled new product launches (notably Transitions. Annual Shareholders' Meetings; Regulatory Information; Investor Relations contacts ... Close. Performance was stronger in the second half owing to the launch of Transitions® Signature® GEN 8™. And in February, Essilor pledged to donate 1 million eyeglasses and sunglasses to the United Nations Road Safety Fund (UNSRF). Changes in working capital requirement amounted to Euro 52 million against Operating cash-flow. Growth was fueled by value-added lenses in all countries. In 2018 and 2019, adjusted measures exclude: (i) the incremental impacts of the purchase price allocations related to the EL Combination; and (ii) other adjustments related to transactions that are unusual, infrequent or unrelated to normal operations, as the impact of these events might affect the understanding of the Group's performance. Equity increased mainly for the result of the year (Euro 1,670 million including other comprehensive income items), the share capital increases related to the sell-out and squeeze-out procedures on Luxottica shares, as described in paragraph 1.2.2 - Significant Events (Euro 1,019 million) and the share-based payments accounted for in 2019 (Euro 154 million), while decreased by Euro 959 million following dividend distribution. 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. Essilor International S.A. is a French-based international ophthalmic optics company that designs, manufactures and markets lenses to correct or protect eyesight. For further details, please refer to the table in the Appendix. commented Francesco Milleri, Deputy Chairman and CEO of Luxottica. Delfin S.à.r.l, the majority shareholder of Luxottica Group S.p.A. and Essilor International (Compagnie Générale d’Optique), today announced the successful completion of the combination of Essilor … Annual Shareholders Meeting: May 15, 2020; according to the IFRS consolidated statement of cash flow. Since then, Essilor International has implemented a wide range of corrective measures under the supervision of the EssilorLuxottica Board of Directors. Adjusted6 Gross profit in 2019 ended at Euro 10,887 million, representing 62.6% of revenue versus 63.0% in 2018. On a global basis, the program is now comprised of approximately 16,600 doors, representing over 13% of sales for the Wholesale division. The Company reaffirms the objective to close the transaction within 12 to 24 months from the announcement date, July 31, 2019, in cooperation with the relevant authorities. In Retail, Australia and New Zealand kept on a nice growing trajectory in both optical at OPSM, posting the 14th consecutive quarter of positive comps5/sales, and sun business at SGH, consistently in terms of sales and comparable store sales5 growth, reaping the fruits of the store refurbishment program carried out last year. Net cash flow provided by operating activities (a), Purchase of property, plant and equipment and intangible assets (a), Cash payments for the principal portion of lease liabilities (a), Adjusted6 consolidated statement of profit or loss. The growth in Wholesale was reinforced by the solid performance in the independent, department store and the third-partye-commerce channels. Royalties of Euro 168 million, related to the Group's licensed frame brands. Costa made further inroads with Eyecare professionals as well as in sporting goods stores and online channels, while increasing its presence in the United States. These adjustments are described below. Good performances from progressive and photochromic lenses have accelerated gains in South Korea quarter after quarter, and kept momentum strong in Southeast Asia. Charenton-le-Pont, FRANCE. Advertising and marketing costs of Euro 1,236 million included the impact of investments to drive future growth. The division showed strength across all regions through a continued focus on innovation, fast growing markets4 and e-commerce. The Group posted an adjusted6 Operating profit of Euro 2,812 million, representing 16.2% of sales, in line compared to 2018. Interest Rate Swap measured at fair value, Lease liabilities (current and non-current). 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. Out in the County within three years a renewed effort in marketing campaigns on lens brands e-commerce had. 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