essilor international annual report 2019

Founded in 1972, Essilor … Part of an annual (financial) report; Differentiation Level This COP qualifies … 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%. Gains were driven by value-added lenses, especially progressive lenses. Laurent Vacherot, President and Chief Operating Officer 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. Financial Press Releases. 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. 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 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. The Lenses & Optical Instruments division was a major contributor to the regional performance. 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. In Nepal, the company signed a letter of intent to provide access to eye care to the 350,000 residents of the Bhaktapur district. Luxottica continued to grow in Latin America last year, expanding sales at constant exchange rates2 in both Wholesale and Retail divisions. Accordingly, in order to provide additional comparative information on the results for the period under review compared to previous periods, to reflect the EssilorLuxottica actual economic performance and enable it to be monitored and benchmarked against competitors, some measures have been adjusted ("adjusted measures"). Recovery of misappropriated funds: The company progressed with freezing funds on different bank accounts in several jurisdictions. Over the course of 2019, Essilor worked toward this goal through partnerships to eliminate poor vision in many regions. 2019 was positive for Luxottica in the region as a whole, with growing sales at constant exchange rates2 in both Wholesale and Retail divisions. 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. 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. 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. These reports include company annual reports (10K, 10Q), news updates (8K), investor presentations (found in 8Ks), insider trades (form 4), ownership reports (13D, and 13G), and reports related to the specific securities sold, such as registration statements and prospectus. Lenses & Optical Instruments - Latin America. Trends were strong in Sunglasses & Readers. 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 brand notably solidified its leadership in fishing stores, selling to fishing enthusiasts and those living near beaches, lakes and rivers. 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. Financial Schedules. It continued to diversify its distribution network in the United States and to expand its international and online operations. The Sunglasses & Readers division continued to benefit from its expansion in optical frames and online sales, primarily in China. On December 30, 2019, EssilorLuxottica announced that its subsidiary Essilor International discovered fraudulent financial activities in one of its plants in Thailand. The company continued to develop its STARS program, thanks to top key accounts, and related turnover experiencing a further acceleration, up by more than 50% compared to the fourth quarter of last year. 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. 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. The Wholesale division saw robust trends in particular in Spain, Portugal, Greece, UK, Turkey and Eastern Europe. Within the Sunglasses & Readers division, FGX International delivered robust sales, notably in the United Kingdom and Germany. They would aim at optimizing the Company's global infrastructure. This partnership promotes global action on good vision for road users while contributing to the United Nations' Sustainable Development Goals. "An ever-growing number of solutions in all price points to correct and protect eyesight." 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. EssilorLuxottica can rely on a worldwide network of plants and laboratories, which allow flexibility and continuity. 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). In North America, revenue increased by 7.6% to Euro 2,273 million (+4.3% at constant exchange rates2). Major strides were also made in digital marketing with consumers in Mexico and Colombia now able to access the Spanish-language edition of the eye care information website "AllAboutVision.com". Rather, these other non-GAAP measures should be used as a supplement to IFRS results to assist the reader in better understanding the operating performance of the Group. The Equipment division was a slight headwind to regional growth on a consolidated basis despite solid underlying activity as market conditions in fast growing markets remained favorable. EssilorLuxottica is a global leader with an ambition to grow the industry. 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 In January, Essilor's flagship inclusive business program Eye MitraTM - the world's largest rural optical network - was featured at the World Economic Forum in Davos in a newly launched report called "Business as Unusual". 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. 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. 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. 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. 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 … Moreover, investors should be aware that the Group's method of calculating those non-GAAP measures may differ from that used by other companies. The Sun & Readers division contributed modestly to regional growth. Essilor €7.46 B in annual revenue in FY 2018. Good performances from progressive and photochromic lenses have accelerated gains in South Korea quarter after quarter, and kept momentum strong in Southeast Asia. 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. The proprietary e-commerce platforms delivered exceptional growth, with a further acceleration in the. News / 2020.12.17. Operating expenses amounted to Euro 8,074 million in 2019, translating to 46.4% of sales compared to 46.9% in the prior year and reflecting: Adjusted6 Operating profit: +7.4% at current exchange rates and +3.3% at constant exchange rates2. The Company's adjusted6 gross profit as a percent of sales came in at 62.6% while adjusted6 operating profit was stable at 16.2% of sales. #01 Connected life: take care of your eyes! In the industrial sector, cash out related to capital expenditures amounted to Euro 903 million in 2019, 5.2% of net sales, compared to Euro 927 million in the previous year. Essilor International was excluded following their merger. Ariel Bauer is appointed co-Head of Investor Relations of EssilorLuxottica alongside Giorgio Iannella, in replacement of Véronique Gillet. 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. This peer group ... 2019 Annual Incentive, as well as 2017 Long-Term Incentive performance criteria were adequate. Here are just some of the highlights from fiscal year 2019… Distributed by Public, unedited and unaltered, on 06 March 2020 08:47:04 UTC, Revenue growth at constant exchange rates, Dividend recommendation: Euro 2.23 per share, scrip dividend proposed, - The Board of Directors of EssilorLuxottica met on March 5, 2020 to approve the consolidated financial statements for the year ended December 31, 2019. 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. In 2020, the Group will continue investing in production, development of the retail network, integration activities, M&A and partnerships projects. To Euro 3,351 in 2019, EssilorLuxottica announced the closing of the Bhaktapur district from. The year, expanding sales at constant exchange rates2 ): internal controls and security measures have been across! 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