OutlookThe Company’s financial objectives for 2020 assume that the COVID-19 outbreak will subside in the next few months. Contingency plans can be activated in case of a protracted pandemic. Charenton-le-Pont, France (July 31, 2019 –7:00am)- The Board of Directors of EssilorLuxottica met on July 30, 2019 to approve the condensed consolidated interim financial statements for the six months ended June 30, 2019. 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. 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. 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. Wholesale growth was basically driven by Mainland China, where the business restarted on much cleaner basis. The Statutory Auditors have performed a … 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. 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 Europe revenue increased by 5.7% to Euro 971 million (+4.9% at constant exchange rates2). 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. EssilorLuxottica published an Annual Report for 2018 in April 2019. share these measures with all investors at the same time. In particular, management adjusted the following measures: Gross profit, Operating expenses, Operating profit, Profit before taxes and Net profit. Other financial expenses amounted to Euro 24 million and Share of profits of associates showed a loss of Euro 2 million. Financial statements and reports for EssilorLuxottica EUR 0.35 including annual reports and financial results for the last 5 years. Financial investments Financial investments net of cash acquired amounted to Euro 370 million in 2019, compared to Euro 289 million in 2018. 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. On the opposite, Hong Kong did not improve, deteriorating further in Retail sales and comparable store sales5. Conversely, Brazil was among the top performers and recorded a sustained growth, at high single digit pace during the twelve months, boosted by STARS and Óticas Carol (both meaningfully increasing the number of doors). 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. 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. 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. 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 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”. Elsewhere in the region growth was supported by continued market development and improved product mix, which more than offset economic headwinds in select markets, notably Chile and Colombia. Royalties of Euro 168 million, related to the Group’s licensed frame brands. Luxottica Group is a leader in premium, luxury and sports eyewear with over 7,400 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a In North America revenue increased by 8.5% to Euro 9,154 million (+3.1% at constant exchange rates2). Non-recurring Selling expenses for a net cost of Euro 7 million resulting from an impairment loss recorded on specific brands, as well as from some projects aimed at transforming significantly the Group’s sales force organization. So far, the virus has also slightly impacted the Company’s revenue performance in other regions. 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. EssilorLuxottica confirms that the search for a new CEO is ongoing. 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. Such adjusted measures are reconciled to their most comparable pro forma1 measures in the Restated Unaudited Pro Forma Consolidated Financial Information for the year ended December 31, 2018, and to the most comparable reported measures in the consolidated statement of profit or loss for the year ended December 31, 2019. GrandVisionThe European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. In Europe, revenue increased by 4.9% to Euro 4,236 million (+5.1% at constant exchange rates2). © 2021 GlobeNewswire, Inc. All Rights Reserved. These financial statements were audited by the Statutory Auditors whose certification report is in the process of being issued. In Latin America, revenue increased by 7.7% to Euro 1,108 million (+9.5% at constant exchange rates2). It is now also considering internal candidates. Publication of the 2019 Interim Financial Report. 2016 ANNUAL REPORT. 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 Instruments business saw strong growth in 2019, fueled by the launch and marketing of two major new products during the year: Visioffice® X, a tool for personalizing lenses in optical stores, and the Vision-R™ 800 phoropter. (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. The final appointment is expected to be made by the end of 2020. 2019 Annual Report. centralization of the Group warehouses removing stock in store; closing down some local warehouses) as well as those related to a change in the Group business model (e.g. Annual Report 2019. Operating in a fiercely competitive environment, the Lenses & Optical Instruments division demonstrated resilience in France, the largest market in the region, and in all Eastern European countries, particularly Poland and Russia. Operating cash-flow before changes in working capital amounted to Euro 3,351 in 2019.Changes in working capital requirement amounted to Euro 52 million against Operating cash-flow.Capital expenditures amounted to Euro 903 million, representing 5.2% of Group’s revenue.The Free Cash Flow7 normalized for IFRS 16 impacts amounted to Euro 1,825 million. Performance of the sun category stood out in the fourth quarter. Webcasts; Archive. These financial statements were audited by the Statutory Auditors whose certification report is in the process of being issued. Adjusted6 net profit attributable to owners of the parent: +9.2% at current exchange rates and 4.8% at constant exchange rates2. 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