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. Adjusted6 net profit attributable to owners of the parent: +9.2% at current exchange rates and 4.8% at constant exchange rates2. In e-commerce, online sales in Brazil continue to develop rapidly. EssilorLuxottica published an Annual Report for 2018 in April 2019. 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. Synergies and integration The Company has started to drive integration and deliver revenue and cost synergies. After having bought the assets of the laboratory of Devlyn Holdings, Essilor signed a supply contract with Opticas Devlyn, the leading optical chain in Mexico, which boosted growth in constant currency terms. The transaction has been unconditionally cleared so far in the United States, Russia and Colombia, and it is currently under review also in Brazil, Chile, Mexico and Turkey (see page 28 for more details). They would aim at optimizing the Company’s global infrastructure. 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. 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. Annual Shareholders Meeting: May 15, 2020; Non-recurring Cost of sales for Euro 8 million mainly associated with restructuring and reorganization expenses incurred with respect to projects aimed at the optimization of the central warehouses of the Group and the costs of Luxottica’s restricted shares plan (LTI) for employees working for operations activities. 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. And in China, Essilor worked with the Huoqiu County to eliminate poor vision in the county within three years. Full year 2019 results Uplift in Sales and Net Profit growth Strong foundation to accelerate synergy delivery ... | November 29, 2020 The Sunglasses & Readers division contributed modestly to regional growth during the quarter. Non-recurring Other income / (expenses) are adjusted for Euro 166 million corresponding to the following impacts: non-recurring loss related to the fraudulent financial activities in a plant in Thailand for an amount of Euro 185 million (including foreign exchanges impacts); non-recurring costs related to M&A and divestment transactions for Euro 22 million mainly related the loss resulting from the sale of Merve as a condition required by the Turkish anti-trust authorities to approve the combination of Essilor and Luxottica for Euro 14 million, as well as a non-recurring impact on final deferred payments paid on various past acquisitions; net negative impact of Euro 5 million related to other non-recurring transactions linked to significant claims and litigations; and. Additional funds are currently being traced. 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. Financials and annual report of EssilorLuxottica SA. * 2018 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 EL Combination. Including synergies and at constant exchange rates2, it is projecting the following: In addition, due to the COVID-19 outbreak, the Company’s current expectation is for revenue growth to be below the annual trend in the first half of the year, followed by a recovery in the second half. On the opposite, Hong Kong did not improve, deteriorating further in Retail sales and comparable store sales5. 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. At the current level, inventory is sufficient to meet several weeks of demand.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. Performance of the sun category stood out in the fourth quarter. FraudThe Company announced on December 30, 2019 that it had discovered fraudulent financial activity at an Essilor plant in Thailand. Both Luxottica divisions posted the best quarter of the year. The steady growth posted by Europe was driven by volumes and benefited from the relentless evolution of STARS. Mainland China continued to leverage the success of the strategic repositioning of the business undertaken two years ago. 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. In India, promotional campaigns, online sales and innovative business models for Base-of-Pyramid consumers only partially offset the decline in sales through traditional distribution channels. The division showed strength across all regions through a continued focus on innovation, fast growing markets4 and e-commerce. In addition to the press release announcing the H1 results, the report comprises the condensed consolidated interim financial statements, the management report, the unaudited pro forma condensed consolidated interim financial information, the statement by the person responsible for the interim financial report and the auditors' review report. * 2018 information has been restated following the application of IFRS 16 Leases. This partnership promotes global action on good vision for road users while contributing to the United Nations’ Sustainable Development Goals. 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. ... • Mr. Eric Léonard, a French national, co-Chief Integration Officer of EssilorLuxottica The appointments will be effective upon and subject to closing of the Transaction, namely the sale of HAL’s 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. 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. 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 EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. 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. 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. 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. Furthermore, EssilorLuxottica shareholders rejected two additional resolutions, which had been added on the agenda of the Annual General Meeting following requests from some of the Company’s shareholders received on April 18, 2019. David Wielemans is appointed co-CFO of EssilorLuxottica alongside Stefano Grassi, in replacement of Hilary Halper. FraudOn December 30, 2019, EssilorLuxottica announced that its subsidiary Essilor International discovered fraudulent financial activities in one of its plants in Thailand. Cost of net debt is adjusted for Euro 9 million corresponding mainly to non-recurring financial expenses linked to early repayment of debt at Luxottica level in the context of the restructuring and centralization of financial debt at EssilorLuxottica level. 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. The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. 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. 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. 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. In this document, management presented certain performance indicators that are not envisioned by the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board and endorsed by the European Union. The Sunglasses & Readers division performed well in 2019, with revenue rising 12.5% to Euro 885 million (+8.9% at constant exchange rates2). Careers All regions were on the rise, with a remarkable acceleration experienced by North America over the second part of the year supported by positive trends at independents, department stores and third-party e-commerce. The Lenses & Optical Instruments division delivered strong in the region, with business up sharply in China, South Korea, Southeast Asia and Japan. Robust growth continued with Alliance members and Essilor Experts while key accounts expanded at a modest pace. The steady growth posted by Europe was driven by Australia, mainland China, where the restarted. Has been published today free cash flow and net profit growth, with store. The end of 2020 e-commerce platforms delivered exceptional growth, in replacement of Véronique Gillet of relations... 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