The Equipment division continued its strong performance in the fourth quarter, ending the year sharply higher. The performance at Sunglass Hut was mixed. The Sunglasses & Readers division performed well in 2019, with revenue rising 12.5% to Euro 885 million (+8.9% at constant exchange rates2). 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; distribution of exceptional bonuses to French employees for Euro 2 million. 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 Company announced on December 30, 2019 that it had discovered fraudulent financial activity at an Essilor plant in Thailand. • 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 Wholesale grew high-single digit thanks to the sound execution across all channels. January 2018 – December 2018 Files. The Statutory Auditors have performed a … Operating cash-flow before changes in working capital amounted to Euro 3,351 in 2019. This included a renewed effort in marketing campaigns on lens brands. Recovery of misappropriated funds: The company progressed with freezing funds on different bank accounts in several jurisdictions. Revenue was positive throughout the entire year, with comparable store sales5 slightly above the parity in the twelve months. Special Reports. The Wholesale channel showed steadily growth over the year, supported by volumes expansion. 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. 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. Essilor of America's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. EssilorLuxottica Corporate Communications, (Charenton-le-Pont) Tel: + 33 1 49 77 42 16, (Charenton-le-Pont) Tel: + 33 1 49 77 45 02, Excerpts from the full year 2019 management report, Full year 2019 revenue by operating segment. 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. 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); restructuring and reorganization expenses for Euro 48 million. The 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. Financial debt, including lease liabilities. 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. Additional funds are currently being traced. This peer group ... 2019 Annual Incentive, as well as 2017 Long-Term Incentive performance criteria were adequate. 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. This page shows recent SEC filings related to Essilor International SA The gross margin at Luxottica was broadly stable, despite the slight dilution generated by the fast- growing managed vision care business. 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 proprietary e-commerce platforms delivered exceptional growth, with a further acceleration in the. EssilorLuxottica completed 29 transactions in 2019, representing full-year revenue of close to Euro 218 million. 2019/05/27 Time period. Following an exceptional performance through the first nine months of the year, the Equipment division slowed down during the fourth quarter. The Company announced on December 30, 2019 that it had discovered fraudulent financial activity at an Essilor plant in Thailand. 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. Ariel Bauer is appointed co-Head of Investor Relations of EssilorLuxottica alongside Giorgio Iannella, in replacement of Véronique Gillet. Hong Kong confirmed to be a drag, with no signs of improvement, while GMO was impacted by protests in Chile and Ecuador in the last quarter of the year. 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 … This partnership promotes global action on good vision for road users while contributing to the United Nations' Sustainable Development Goals. 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. Charenton-le-Pont, FRANCE. through traditional distribution channels. 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. Here you will find the financial press releases of EssilorLuxottica. > Download the pdf version of the news release > Download the 2018 Interim Financial Report in pdf version 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 Company also implemented a range of structural decisions in order to start the integration process and the delivery of the expected synergies presented at its Capital Markets Day. It is now also considering internal candidates. Sunglasses & Readers performance in the United States was driven primarily by FGX during the fourth quarter. The Board of Directors will recommend that shareholders at the Annual Meeting to be held on May 16, 2019 approve the payment of a dividend of Euro 2.04 per share. Fourth-quarter 2019 revenue by geographical area. They would aim at optimizing the Company's global infrastructure. 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. The Equipment division posted solid growth as market conditions in fast growing markets remained favorable. 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. Lenses & Optical Instruments - Latin America. Moreover, investors should be aware that the Group's method of calculating those non-GAAP measures may differ from that used by other companies. Over the course of 2019, Essilor worked toward this goal through partnerships to eliminate poor vision in many regions. 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. 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 ... May 31, 2019 /PRNewswire/ -- FGX International, a leading eyewear designer and marketer, is celebrating the 90 ^th Anniversary of … The Group posted an adjusted6 Operating profit of Euro 2,812 million, representing 16.2% of sales, in line compared to 2018. Finally, Persol opened its first store in Europe (in Milan). Canada and sales of Transitions to other lens casters were headwinds while contact lens distribution activities added to growth. 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. And in China, Essilor worked with the Huoqiu County to eliminate poor vision in the county within three years. 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 division also rolled out new technological advances and product ranges to independent laboratories to further support growth. Weighted average number of shares outstanding: Earnings per share (EPS) for net profit attributable to owners of the parent: Consolidated statement of financial position, Net profit attributable to owners of the parent, EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT, Equity attributable to non-controlling interests, Expense arising from share-based payments, NET CASH FLOWS PROVIDED BY / (USED IN) OPERATING ACTIVITIES, Purchase of property, plant and equipment and intangible assets, Disposal of property, plant and equipment and intangible assets, Acquisitions of businesses, net of cash acquired, NET CASH FLOWS PROVIDED BY / (USED IN) INVESTING ACTIVITIES, 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, NET CASH FLOWS PROVIDED BY / (USED IN) FINANCING ACTIVITIES, NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS, Cash and cash equivalents at the beginning of the financial year, Effects of exchange rate changes on cash and cash equivalents, CASH AND CASH EQUIVALENTS AT THE END OF THE FINANCIAL, EssilorLuxottica SA published this content on 06 March 2020 and is solely responsible for the information contained therein. 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. 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. deteriorating further in Retail sales and comparable store sales5. This has been defined as a priority and will be monitored as such. In India, promotional campaigns, online sales and innovative business models for Base-of-Pyramid consumers only partially offset the decline in sales. Baxter's Annual Chairman Letter, Proxy Statement and Form 10-K filings sorted by year. The issuance of the Euro 5 billion bond in November did not have a material impact in 2019. Retail sales increased soundly in the quarter in high-single digit area, posting its 24th consecutive quarter of turnover expansion. In Brazil, the solid dynamics through the first nine months eased as the focus shifted to the Transitions® Signature® GEN 8™ launch anticipated in the earlier part of 2020. As presented in the consolidated statement of cash flows. EssilorLuxottica's revenue increased by 4.5% at constant exchange rates2 during the fourth quarter of 2019. share these measures with all investors at the same time. Adjusted6 Gross profit in 2019 ended at Euro 10,887 million, representing 62.6% of revenue versus 63.0% in 2018. July 26, 2018 2018 INTERIM FINANCIAL REPORT ESSILOR INTERNATIONAL Table of contents First-Half 2018 Results News Release First-Half 2018 Report First-Half 2018 Condensed Consolidated Financial Statements Statement by the Person Responsible for the 2018 Interim Financial Report Statutory Auditor’s Review Report on the First-Half 2018 Financial Statements 2019 Annual Report and Form 10K. The European Commission has initiated a Phase II review of the proposed acquisition of GrandVision. It will likely take several months to effectively recover them. EssilorLuxottica consolidated statement of profit or loss. Adjusted6 Gross profit: +6.6% at current exchange rates and 3.5% at constant exchange rates2. In 2019, EssilorLuxottica had over 150,000 employees and consolidated revenues of Euro 17.4 billion. Baxter International Inc. has reached its limit for free report views. Sunglass Hut posted positive performance building on a winning omnichannel proposition, further articulated and resonating well with its customers. * 2018 information has been restated following the application of IFRS 16 Leases. The Equipment division grew by 2% at constant exchange rates2 with a mix of solid market trends in Europe, Latin America and Asia offset by a slowdown in the capital investment cycle in other developed markets, partly due to industry consolidation. Both Luxottica divisions posted the best quarter of the year. 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. 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 Its headquarters is based in Charenton-le-Pont (near Paris), France. 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. Royalties of Euro 168 million, related to the Group's licensed frame brands. Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP. 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. 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 brand notably solidified its leadership in fishing stores, selling to fishing enthusiasts and those living near beaches, lakes and rivers. 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. 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. 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 Board of Directors of Essilor met on July 25, 2018 to approve the financial statements for the six months ended June 30, 2018. The business contributed to group profitability, which enabled continued R&D investment to support innovation in production methods and lab efficiency across the global ophthalmic lens industry. EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. In Europe Sunglass Hut and Salmoiraghi & Viganò kept nicely growing, like both optical and sun business did in Australia and sun in Brazil. This included the development of Essilor lenses, including the most innovative and technologically advanced categories, within the Company's own retail networks as well as key initiatives in R&D, procurement, prescription laboratories and insourcing. During the fourth quarter the sales drop was amplified at Sears Optical. In the prior fiscal year, targeted investments helped ZEISS shape the future. Essilor International; Published. 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. Luxottica's regional sales accelerated in the fourth versus the third quarter, driven by Australia, Mainland China and South East Asia. In Nepal, the company signed a letter of intent to provide access to eye care to the 350,000 residents of the Bhaktapur district. Enter this section to read more and get in touch with the Financial Communication and Investor relations team. The performance of the Lenses & Optical Instruments in the quarter was driven by robust gains in Russia, Turkey, Instruments and online sales of contact lens through VisionDirect. 2019 was positive for Luxottica in the region as a whole, with growing sales at constant exchange rates2 in both Wholesale and Retail divisions. Elsewhere in Europe, revenue was either flat or slightly lower. These efforts earned EssilorLuxottica the 17th spot in Fortune Magazine's annual Change the World list in 2019. Adjusted6 net profit attributable to owners of the parent: +9.2% at current exchange rates and, Consolidated statement of financial position, Net Debt and cash flow, Condensed consolidated statement of financial position. In India, more than 143,000 people were screened to put the Doddaballapura region on track to be the first in the country to also eliminate poor vision by 2021. See insights on Essilor including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. In 2019, the global revenue of Essilor amounted to approximately 7.9 billion euros. 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 … 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. Valoptec’s presence on the Essilor Board, and continuous dialogue with the company’s senior managers, a diverse international base of employee shareholders today actively participate in Essilor’s corporate life. And in February, Essilor pledged to donate 1 million eyeglasses and sunglasses to the United Nations Road Safety Fund (UNSRF). 2010; ... International offering Memorandum. The comparability in 2019 consolidated financial statements is still affected by the EL Combination which occurred on October 1, 2018. In particular, management adjusted the following measures: Gross profit, Operating expenses, Operating profit, Profit before taxes and Net profit. 1 Pro forma: the Restated Unaudited Pro Forma Consolidated Financial Information has been produced for illustrative purposes only, with the aim of providing comparative information for the year ended December 31, 2018 as if the combination between Essilor and Luxottica had occurred on January 1, 2018. Mainland China continued to leverage the success of the strategic repositioning of the business undertaken two years ago. 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. Activation of synergies in line with Company's expectations, with structural decisions creating a strong foundation for an increase in synergy delivery in 2020 and 2021; Continued strong momentum in external growth with the proposed acquisition of GrandVision and several, Lenses & Optical Instruments grew by 5.2% at constant exchange rates, Sunglasses & Readers grew by 10.1% at constant exchange rates, Wholesale rose by 2.4% at constant exchange rates, Retail continued on its solid path, up 4.6% at constant exchange rates. Internal action: Internal controls and security measures have been tightened across the global operations. All Forms filed with the U.S. Securities and Exchange Commission sorted by year. 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). It is classified as operating in the Merchant Wholesalers, Durable Goods industry. However, please continue to check our website as we regularly publish new job offers. The report comprises the interim consolidated financial statements, the interim management report, the statement by the person responsible for the interim financial report and the auditors’ review report on the interim consolidated financial statements. 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. The direct e-commerce business had another exceptional quarter growing at 27% at constant exchange rates2 and all major websites contributed to the success. The European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. 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. The meeting will be available live and on a replay mode at: https://channel.royalcast.com/webcast/essilorluxotticaen/20200306_1/. On the Essilor side, the positive effect from the Transitions Generation 8 launch was more than offset by portfolio mix effects stemming from faster growth in online contact lens sales and Sunglasses & Readers as well as a negative impact from the obsolescence of the Transitions Generation 7 product. 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. Wholesale growth was basically driven by Mainland China, where the business restarted on much cleaner basis. 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. Luxottica continued to grow in Latin America last year, expanding sales at constant exchange rates2 in both Wholesale and Retail divisions. 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. 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. These efforts earned EssilorLuxottica the 17th spot in Fortune Magazine's annual Change the World list in 2019. Essilor International was excluded following their merger. In Asia, Oceania and Africa revenue increased by 6.8% to Euro 756 million (+5.0% at constant exchange rates2). By sending the form above, I acknowledge that I have read the Privacy Notice and that I have been fully informed of the terms and conditions under which Essilor International processes my personal data. Such measures are not meant to be considered in isolation or as a substitute for items appearing in EssilorLuxottica consolidated financial statements prepared in accordance with IFRS. Advertising and marketing costs of Euro 1,236 million included the impact of investments to drive future growth. Within the Sunglasses & Readers division, FGX International delivered robust sales, notably in the United Kingdom and Germany. Since this transaction has been considered a reverse acquisition according to the requirements of IFRS 3 Business Combinations, the consolidated financial statements reflect the following structure: EssilorLuxottica consolidated statement of profit or loss: reconciliation with adjusted6 figures. With guidance direct e-commerce business had a strong year with Target Optical and EyeMed leading the way at double-digit growth. 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