2019/05/27 Time period. 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. 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. Annual Shareholders' Meetings; Regulatory Information; Investor Relations contacts ... Close. Moreover, in the wake of this incident, Essilor International reorganized its Treasury and local management in Thailand. "When we look at Luxottica's performance over the past year, there is so much to be proud of, both in terms of our solid results and many notable achievements - our continued digital transformation in particular proved that the work we've done over the past five years is paying off. And in China, Essilor worked with the Huoqiu County to eliminate poor vision in the county within three years. Additional funds are currently being traced. Group Net Debt (excluding lease liabilities) amounted to Euro 1,898 million at the end of December 2019, an increase of Euro 11 million compared to the restated Net Debt position at the end of December 2018. Capital expenditures amounted to Euro 903 million, representing 5.2% of Group's revenue. Full Year 2019 revenue by geographical area. 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 current COVID-19 epidemic has a negative impact on the Company's business in Greater China, which represents approximately 5% of consolidated revenue. Luxottica continued to grow in Latin America last year, expanding sales at constant exchange rates2 in both Wholesale and Retail divisions. In addition to revolutionizing optometry, the Vision-R™ 800 paves the way for ophthalmic lenses with much greater accuracy. On the opposite, after a positive first half of the year, the Mexican wholesale business started deteriorating in the third quarter and failed to recover in the final three months, mostly due to the poor performance of independents and key accounts. The Company announced on December 30, 2019 that it had discovered fraudulent financial activity at an Essilor plant in Thailand. Merve is a leading turkish wholesaler of sunglasses and optical frames with 5 proprietary brands (Ossé, Mustang, Hawk, Optelli, Soleil) and 16 licensed brands from Marcolin, generating a total of around Euro 19 million of revenue in 2018. 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%. 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. Charenton-le-Pont, FRANCE. During the first months of 2019, as a result of the finalization of the sell-out and squeeze-out procedures, the Group incurred a total cash-out of Euro 641. million towards those Luxottica shareholders that tendered their shares against cash and consequently reversed the put liability accounted for as of December 31, 2018. Phone: +33 (0)1 49 77 42 16, 147 rue de Paris, 94220
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?". 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. 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. On December 5, 2019, EssilorLuxottica announced the closing of the disposal of its 100% stake in Merve Optik in Turkey. 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. The division showed strength across all regions through a continued focus on innovation, fast growing markets4 and e-commerce. 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. The dividend will be paid - or the shares issued - as from June 15, 2020. 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 … 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. 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. The proprietary e-commerce platforms delivered exceptional growth, with a further acceleration in the. 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. 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. 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. 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. 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. Contingency plans can be activated in case of a protracted pandemic. The Company announced on December 30, 2019 that it had discovered fraudulent financial activity at an Essilor plant in Thailand. 2019 was marked by several key initiatives including marketing programs such as "Varilux® em Dobro" in Brazil, "Cambia tu cara" in Colombia, and enhanced client marketing at Grupo Vision in Costa Rica. They would aim at optimizing the Company's global infrastructure. Founded in 1972, Essilor … In 2019, EssilorLuxottica's full year revenues grew by 7.4% compared to prior-year pro forma1 revenue (4.4% at constant exchange rates2). 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. In Italy, Salmoiraghi & Viganò, the leading multi-brand retailer in the country, consolidated further its position, growing nicely in both comparable sales5 and total revenues, also thanks to a successful store renovation plan that will be carried forward in 2020 as well. The steady growth posted by Europe was driven by volumes and benefited from the relentless evolution of STARS. Performance was stronger in the second half owing to the launch of Transitions® Signature® GEN 8™. 2019 Annual Report and Form 10K. Australia, Mainland China, South East Asia and Middle-East drove the group's performance in the area, more than balancing the decline in Hong Kong and travel retail business, while Japan and Korea closed the year at around the par. 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. 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