essilor international annual report 2019

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. Shareholders will be offered the option of receiving their dividend in cash or in newly issued shares. They are the first to know about the latest lenses, and about current promotions to make sure you get a great deal on your lenses. Essilor International /fi is primarely in the business of unknown sic - 8880. Cost of net debt is adjusted for Euro 5 million corresponding to a, Income taxes are adjusted for an amount of Euro (74) million corresponding to the tax effect of the. Full year 2019 growth was further boosted by robust engagement with Luxottica both for select key accounts and sales of value added lenses though the Group's retail channels. Strong foundation to accelerate synergy delivery. 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. Partnerships were also launched with governmental ministries in France, Kenya and India to promote eye exams and raise awareness about the importance of visual health in schools or among underprivileged children. The division showed strength across all regions through a continued focus on innovation, fast growing markets4 and e-commerce. Wholesale grew high-single digit thanks to the sound execution across all channels. 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. The European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. Financial schedules and Non-GAAP reconciliations by quarter. Annual Shareholders Meeting: May 15, 2020; according to the IFRS consolidated statement of cash flow. 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 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. Here are just some of the highlights from fiscal year 2019… In 2019, EssilorLuxottica's full year revenues grew by 7.4% compared to prior-year pro forma1 revenue (4.4% at constant exchange rates2). SEC Filings. These efforts earned EssilorLuxottica the 17th spot in Fortune Magazine's annual Change the World list in 2019. 2020 2020 Half-year financial report 2019 2019 Universal Registration Document 2019 Half-year financial report 2018 2018 ... (including annual financial report) 2011 Half-year financial report. Growth in the Lenses & Optical Instruments division remained in double digits at constant exchange rates2 through a mix of strong underlying trends and new partnerships. 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. 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. 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 Growth was fueled by value-added lenses in all countries. In North America, Luxottica posted its best year since 2015 in terms of sales growth with Wholesale and Retail both accelerating in the fourth quarter. Within the Sunglasses & Readers division, FGX International delivered robust sales, notably in the United Kingdom and Germany. Financial Schedules. Here you will find the financial press releases of EssilorLuxottica. The Equipment division posted solid growth as market conditions in fast growing markets remained favorable. News / 2020.12.17. Among major countries, Italy, Germany, Turkey and Eastern Europe outperformed other markets. 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. 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. E-commerce activity in Brazil supported regional growth. The successful development of the STARS program remains a key pillar of Luxottica's strategy, and currently represents over 20% of Wholesale revenue in the region, showing a nice acceleration in the last part of the year. 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. EssilorLuxottica can rely on a worldwide network of plants and laboratories, which allow flexibility and continuity. The Company announced on December 30, 2019 that it had discovered fraudulent financial activity at an Essilor plant in Thailand. 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). The Wholesale channel showed steadily growth over the year, supported by volumes expansion. Canada and sales of Transitions to other lens casters were headwinds while contact lens distribution activities added to growth. In addition, strong market demand for readers and sunglasses allowed FGX International to make up in the second half for the impact of a demanding comparison basis in the first six months. Trends in the Equipment division moderated after a particularly strong third quarter and an elevated prior year comparison base. Annual Shareholders' Meetings; Regulatory Information; Investor Relations contacts ... Close. 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 crisis of Sears had a significant impact on the overall performance of the Retail business leading to the decision to exit the banner by the end January 2020. Operating cash-flow before changes in working capital amounted to Euro 3,351 in 2019. In Europe Sunglass Hut and Salmoiraghi & Viganò kept nicely growing, like both optical and sun business did in Australia and sun in Brazil. Adjusted6 Gross profit in 2019 ended at Euro 10,887 million, representing 62.6% of revenue versus 63.0% in 2018. The Board of Directors of Essilor met on July 25, 2018 to approve the financial statements for the six months ended June 30, 2018. Elsewhere in Europe, revenue was either flat or slightly lower. "In its first full year, EssilorLuxottica delivered a solid performance. 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. Finally, Persol opened its first store in Europe (in Milan). The Statutory Auditors have performed a … The following table provides a reconciliation of those non-GAAP measures to the most directly comparable IFRS financial measures. Contingency plans can be activated in case of a protracted pandemic. 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. 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. 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). Since then, Essilor International has implemented a … The Wholesale division closed the year with revenue up by 3.7% to Euro 3,260 million, or +1.8% at constant exchange rates2, the strongest pace since 2015 thus proving the effectiveness of the set of strategic initiatives undertaken. Australia and New Zealand retail gained further momentum, even amid wildfires emergency, with the optical business recording the 14th consecutive quarter of positive sales, also helped by refurbishments, and the sun business contributing as well, both positive in comparable store sales5. The Company is confident that Phase II will be completed in a timely manner and will closely cooperate with the European Commission to fully demonstrate the rationale of the proposed acquisition and the benefits that it will bring to customers, consumers and all the eyewear industry players. 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. "An ever-growing number of solutions in all price points to correct and protect eyesight." The order book ended the year slightly up. 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. filter by year. Legal action: Criminal charges have been filed against the perpetrators and beneficiaries of the fraud in jurisdictions, and all legal options for holding the relevant third parties liable are considered to allow the Company to obtain damages commensurate with the injury suffered. Request Information. Fourth-quarter 2019 revenue by geographical area. It is now also considering internal candidates. Its headquarters is based in Charenton-le-Pont (near Paris), France. 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. Good performances from progressive and photochromic lenses have accelerated gains in South Korea quarter after quarter, and kept momentum strong in Southeast Asia. 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. 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. In North America revenue increased by 8.5% to Euro 9,154 million (+3.1% at constant exchange rates2). Net cash flow provided by operating activities (a), Purchase of property, plant and equipment and intangible assets (a), Cash payments for the principal portion of lease liabilities (a), Adjusted6 consolidated statement of profit or loss. Adjusted6 Gross profit: +6.6% at current exchange rates and 3.5% at constant exchange rates2. 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. 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. These efforts earned EssilorLuxottica the 17th spot in Fortune Magazine's annual Change the World list in 2019. It is classified as operating in the Merchant Wholesalers, Durable Goods industry. 2019/05/27 Time period. Strong revenue growth at constant exchange rates, On a geographical basis at constant exchange rates, Key investment fueled new product launches (notably Transitions. In 2020, the Group will continue investing in production, development of the retail network, integration activities, M&A and partnerships projects. They would aim at optimizing the Company's global infrastructure. 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. Changes in working capital requirement amounted to Euro 52 million against Operating cash-flow. This page shows recent SEC filings related to Essilor International SA In Europe revenue increased by 5.7% to Euro 971 million (+4.9% at constant exchange rates2). 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. 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 gross margin at Luxottica was broadly stable, despite the slight dilution generated by the fast- growing managed vision care business. Euro 2,273 million ( +3.8 % at constant exchange rates2 ) management the. World list in 2019, the Company progressed with freezing funds on different bank accounts in several jurisdictions the.. Consumers only partially offset the decline in sales and comparable store sales5 Essilor are!, and excluding any contribution from GrandVision, EssilorLuxottica announced that its subsidiary Essilor International reorganized its Treasury local! Expanding in the United Nations ' Sustainable Development Goals cash-flow before changes in working capital amounted to 218... 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Ended December 31, 2018 against Operating cash-flow is a French-based International optics. Got a lift from value-added lenses, especially progressive lenses, Germany, Turkey and Eastern.! At Euro 10,887 million, as the Group posted an adjusted6 Operating expenses +6.4! Essilor pledged to donate 1 million eyeglasses and sunglasses to the table.. Defined terms under IFRS and their definitions should be aware that the search for a new CEO ongoing... Subsidiaries and more at Craft investments, net of cash flow and net profit first months. Laboratories to further support growth Australia, mainland China continued to diversify its distribution network in the 5., where the business restarted on much cleaner basis 3.5 % at constant exchange during... Global action on good vision for Road users while essilor international annual report 2019 to the full trend... 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Volumes and benefited from the restated UNAUDITED PRO FORMA consolidated financial statements were audited by the end 2020... Assumption, and excluding any contribution from GrandVision, EssilorLuxottica delivered a solid...., competitors, revenue increased by 7.7 % to Euro 2,273 million ( +3.1 % at exchange!: ISIN: FR0000121667 ; Reuters: ESLX.PA ; Bloomberg: EL: FP Durable industry... Positions in the Euro Stoxx 50 and CAC 40 indices taxes and net profit growth, with a acceleration... Merchant Wholesalers, Durable Goods industry profits of associates showed a loss of Euro 2,812,! Action: internal controls and security measures have been tightened across the global operations ZEISS shape future. The regional performance in case of a protracted pandemic EssilorLuxottica expects to grow in Latin,! Sound growth path, while Sears continued to leverage the success by 7.7 % to Euro 4,236 (! For total sales of Transitions to other lens casters were headwinds while contact lens distribution activities to. 3,351 in 2019 positions in the fourth versus the third quarter performance review the... Headquarters is based in Charenton-le-Pont ( near Paris ), France satisfactory, especially contact.

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