Swedish. Financial investments Financial investments net of cash acquired amounted to Euro 370 million in 2019, compared to Euro 289 million in 2018. Reports. 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. 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. 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. In Nepal, the company signed a letter of intent to provide access to eye care to the 350,000 residents of the Bhaktapur district. Out of consideration of the environment and of cost reasons, Elekta's Annual Report is only available online. The second half of the year decelerated versus the first, particularly due to weaker Wholesale in the third quarter (mostly reflecting political turmoil in Hong Kong, dropping travel retail business and unfavorable weather conditions in Japan), but turning positive in the fourth quarter. 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 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. On a global basis, the program is now comprised of approximately 16,600 doors, representing over 13% of sales for the Wholesale division. 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. Wholesale sales, including sales in Europe, returned to growth in the third quarter and accelerated to +3.4% at constant exchange rates3 (+2% at current exchange rates) in the last three months of the year, confirming the value of the initiatives undertaken. 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 Wholesale channel showed steadily growth over the year, supported by volumes expansion. DividendThe 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. The dividend will be paid – or the shares issued – as from June 15, 2020. After submitting your request, you will … All Reports and Proxies. UN Environment released its 2018 Annual Report, highlighting the organization’s work on issues from fighting pollution of the air and sea to helping nations meet their goals of reducing greenhouse gas emissions. Charenton-Le-Pont, France (April 10, 2019 – 8:00 am CEST) – The 2018 EssilorLuxottica Registration Document was filed in French version with the Autorité des Marchés Financiers (AMF) on April 9, 2019 under the number D.19-0297. Trends were strong in Sunglasses & Readers. Consult all the information about our financial results, upcoming events and future Company plans. All major countries showed a positive evolution in the division, led by Sunglass Hut in Continental Europe and Salmoiraghi & Viganò in Italy. 22 Oct 2018 Third-Quarter 2018 Report Charenton-le-Pont, France (October 22, 2018 – 5:40 p.m.) – EssilorLuxottica (Euronext Paris: EL), Essilor International (Compagnie Générale d’Optique) (“Essilor”) new corporate name since October 1, 2018, is reporting here the third-quarter revenue generated by Essilor. In Asia, Oceania and Africa revenue increased by 6.8% to Euro 756 million (+5.0% at constant exchange rates2). 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 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. 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. 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 (see page 15 for more details). The comparability in 2019 consolidated financial statements is still affected by the EL Combination which occurred on October 1, 2018. Goodwill increased by Euro 588 million, of which Euro 206 million resulting from acquisitions made in 2019, and Euro 382 million resulting from foreign currency fluctuations (including foreign currency fluctuations on the goodwill arising from the EssilorLuxottica Combination, amounting to Euro 333 million). Brand doesn't have an official ecommerce. Market Overview The Lens Edger market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth … The following table provides a reconciliation of those non-GAAP measures to the most directly comparable IFRS financial measures. 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. The EssilorLuxottica share trades on … EssilorLuxottica entstand im Oktober 2018 aus der Fusion der Essilor International S.A. mit der Luxottica S.p.A. Es ist ein weltweit operierendes augenoptisches Unternehmen mit Hauptsitz in Charenton-le-Pont am Südrand von Paris. 2016/17 English. © 2021 GlobeNewswire, Inc. All Rights Reserved. These financial statements were audited by the Statutory Auditors whose certification report is in the process of being issued. For our major brands Adjusted6 Operating expenses: +6.4% at current exchange rates and +3.5% at constant exchange rates2Operating 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 rates2The Group posted an adjusted6 Operating profit of Euro 2,812 million, representing 16.2% of sales, in line compared to 2018. The issuance of the Euro 5 billion bond in November did not have a material impact in 2019. Free cash flow8 was Euro 923 million and, net of exchange rate headwinds, would have been around Euro 1.1 billion3, while net debt decreased by 42%, driving further improvement of the group's net debt/adjusted EBITDA2 ratio to 0.2x. Revenue was positive throughout the entire year, with comparable store sales5 slightly above the parity in the twelve months. 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. Similar to the full year trend, contact lens distribution activities contributed to growth.Sunglasses & Readers performance in the United States was driven primarily by FGX during the fourth quarter.Trends in the Equipment division moderated after a particularly strong third quarter and an elevated prior year comparison base. The pro forma1 operating profit on an adjusted2 basis reached Euro 2,572 million in 2018, an increase of 1.2% at constant exchange rates3. On 1 October 2018, the new holding company EssilorLuxottica was born, resulting in combined market capitalization of approximately €57 billion. ** Reconciliation from Reported to Pro forma1 2018 statement of profit or loss is available in the Appendix. 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. 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). ... EssilorLuxottica SA Annual Report. 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. Royalties of Euro 168 million, related to the Group’s licensed frame brands. This powerful value creation model will facilitate the generation of synergies going forward and will be rolled out across the entire EssilorLuxottica Group," said Hubert Sagnières, Executive Vice Chairman of EssilorLuxottica. Uplift in Sales and Net Profit growth Strong foundation to accelerate synergy delivery. アジア・太平洋地域が発展と変貌を遂げるなか、 ADBも同様でなくてはなりません。新戦略「ストラ テジー2030」により、今後の課題と機会に立ち向 かうアジア・太平洋の国々へのADBの支援態勢が 整ったと言えるでしょう。 The Board of Directors has also approved the unaudited pro forma1 consolidated financial information, which has been prepared for illustrative purposes only. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 1 Oct 2018. Other financial expenses amounted to Euro 24 million and Share of profits of associates showed a loss of Euro 2 million. The Sunglasses & Readers division contributed modestly to regional growth during the quarter. In 2019, EssilorLuxottica had over 150,000 employees and consolidated revenues of Euro 17.4 billion. 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. Sales in Europe were also supported by the growth around double-digit of the Retail division, on the back of effective in-store execution empowering positive results in all countries. 2014 Annual Report. It advanced on its Mission and delivered innovative products at every price point to customers and consumers worldwide while generating profitable growth. Target Optical and EyeMed confirmed their sound growth path, while Sears continued to be a heavy drag. removal of lenses laboratories from the stores). * 2018 information has been restated following the application of IFRS 16 Leases. In Europe, revenue increased by 4.9% to Euro 4,236 million (+5.1% at constant exchange rates2). In 2018, the Retail division grew by 3% at constant exchange rates3 (-1.4% at current exchange rates), primarily fueled by Sunglass Hut, the optical retail business in Australia, Target Optical and the e-commerce platforms. The 2018 IFRS consolidated financial statements were audited by the Statutory Auditors whose certification report is in the process of being issued. The pro forma1 net profit on an adjusted2 basis was down by 1.7% to Euro 1,871 million. * Including Share of profit of associates. 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. Good performances from progressive and photochromic lenses have accelerated gains in South Korea quarter after quarter, and kept momentum strong in Southeast Asia. Annual Report 2019. 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 performance at Sunglass Hut was mixed. Synergies, integration and governanceEssilorLuxottica has the opportunity for significant value creation through revenue and cost synergies which, with the current set up, are expected to range from Euro 420 to Euro 600 million as a net impact on operating profit per annum within the next five years. Net profit for the fiscal year 2018 on an adjusted basis2 was down by 2.0% to Euro 951 million (+6.7% to over Euro one billion at constant exchange rates3) due in part to the tough comparison over last year's record level. In Nepal, the company signed a letter of intent to provide access to eye care to the 350,000 residents of the Bhaktapur district. 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. 2019/20 English. 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. Weighted average number of shares outstanding: Earnings per share (EPS) for net profit attributable to owners of the parent: Net profit attributable to owners of the parent, Equity attributable to non-controlling interests, Expense arising from share-based payments, Disposal of property, plant and equipment and intangible assets, Acquisitions of businesses, net of cash acquired, 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, Cash and cash equivalents at the beginning of the financial year, Effects of exchange rate changes on cash and cash equivalents, Strong revenue growth at constant exchange rates, Direct e-commerce, which represented around 5% of consolidated revenue, grew by 16% at constant exchange rates, On a geographical basis at constant exchange rates, Key investment fueled new product launches (notably Transitions. Luxottica’s regional sales accelerated in the fourth versus the third quarter, driven by Australia, Mainland China and South East Asia. Facebook. In March 2018, the European Commission unconditionally approved the merger of Essilor and Luxottica. Income taxes are adjusted for an amount of Euro (126) million corresponding to the tax effects of the above-mentioned adjustments for Euro (56) million and to the elimination of non-recurring net tax gains for Euro (70) million mainly due to i) the one-off recognition of deferred tax assets on tax losses carry forward in a Canadian entity following the merger of the Essilor and Luxottica entities in Canada into one tax group and to ii) the reimbursement granted from the Italian tax authorities on IRAP tax related to fiscal years 2014 to 2016. 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 … 2014 Annual Report 1.1 MB. 2017 Annual Report. The final appointment is expected to be made by the end of 2020. (a) The comparative period has been restated in accordance with the transitional requirements of the initial application of IFRS 16 – Leases, as well as to reflect the finalization of the purchase price allocation (“PPA”) related to the EL Combination. Income Statement Trend. GrandVisionThe European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP. LensCrafters sales in North America were in line with last year. Outlook for 2019In 2019, the Group is projecting the following, including synergies and at constant exchange rates3: Conference callA conference call in English will be held today at 10:30 am CET.The meeting will be available live and may also be heard later at:https://hosting.3sens.com/EssilorLuxottica/20190308-2690365F/en/webcast/startup.php. History. The Lenses & Optical Instruments division grew by 5.5% at constant exchange rates2 in 2019, for total sales of Euro 6,791 million. Performance of the sun category stood out in the fourth quarter. 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. Euro 300 to Euro 350 million in the period 2019-2021; Euro 420 to Euro 600 million by 2022-2023. 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. Click the button below to request a report when hardcopies become available. The Board of Directors has also approved the Restated Unaudited Pro Forma1 Consolidated Financial Information for the year ended December 31, 2018, which has been prepared for illustrative purposes only. Cost synergies are expected to come in the range of Euro 220-300 million from the combined supply chain optimization, G&A rationalization and sourcing savings. トヨタ企業サイト「Annual Report」をご紹介します。トヨタは企業価値を持続的に高め、ステークホルダーの皆様とともに、安定的・継続的に発展していきたいと考えています。 The direct e-commerce business had another exceptional quarter growing at 27% at constant exchange rates2 and all major websites contributed to the success. Symbol Company Date Type Description Reporting Person Download. 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. As a result, EssilorLuxottica initiated a sell-out procedure for the remaining outstanding Luxottica shares. Find here all the regulatory information published by Essilor International (Compagnie Générale d’Optique) (renamed EssilorLuxottica on October 1st, 2018) prior to the combination with Luxottica. Shipping Information. 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 second half of the year showed an acceleration in sales growth compared to the first six months of the year, helped by a progressive improvement in wholesale's performance in Europe. 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. Thanks to this strategy, sales growth accelerated with each quarter in 2018. These adjustments are described below. Annual Financial Statements of Siemens Healthineers AG 2018 (HGB) (pdf) 0.89 MB; Annual Report 2018 including Consolidated Financial Statements for Siemens Healthineers Group, together with the Combined Management Report of Siemens Healthineers AG and the Siemens Healthineers Group, as of September 30, 2018 (IFRS) (pdf) 1.52 MB In North America revenue increased by 8.5% to Euro 9,154 million (+3.1% at constant exchange rates2). 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. 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. Swedish. EXCERPTS FROM THE RESTATED UNAUDITED PRO FORMA CONSOLIDATED FINANCIAL INFORMATION, EXCERPTS FROM THE CONSOLIDATED GROUP FINANCIAL STATEMENTS. 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. 2019 was positive for Luxottica in the region as a whole, with growing sales at constant exchange rates2 in both Wholesale and Retail divisions. David Wielemans is appointed co-CFO of EssilorLuxottica alongside Stefano Grassi, in replacement of Hilary Halper. This was well above the initial target of delivering like-for-like4 growth of around 4%. And in February, Essilor pledged to donate 1 million eyeglasses and sunglasses to the United Nations Road Safety Fund (UNSRF). Capital expenditure 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. EssilorLuxottica SA Financial Report. As a result, EssilorLuxottica's performance in the future may differ materially from that presented in the unaudited pro forma consolidated financial information.2 Adjusted measures: Adjusted from the expenses related to the EssilorLuxottica Combination and other transactions that are unusual, infrequent or unrelated to the normal course of business as the impact of these events might affect the understanding of the Group's performance. 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. These achievements reflect the vibrant culture of entrepreneurship within Essilor and the creativity of its employees, whose interests are fully aligned with those of shareholders thanks to employee share ownership at every level of the company. EssilorLuxottica has 150,616 employees across 2 locations and €10.80 B in annual revenue in FY 2018. To get access to the full reports, click the button above! 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 bolt-on transactions such as Barberini in Italy and Brille24 in Germany. 2017 Annual Report 982 KB. In 2019, EssilorLuxottica’s full year revenues grew by 7.4% compared to prior-year pro forma1 revenue (4.4% at constant exchange rates2). EssilorLuxottica completed 29 transactions in 2019, representing full-year revenue of close to Euro 218 million. For each geographic area, the calculation applies the average exchange rate of the prior period to both periods.6 Adjusted measures or figures: adjusted from the expenses or income related to the combination between Essilor and Luxottica and other transactions that are unusual, infrequent or unrelated to the normal course of business as the impact of these events might affect the understanding of the Group’s performance.7 Free Cash Flow: Net cash flow provided by operating activities less the sum of Purchase of property, plant and equipment and intangible assets and Cash payments for the principal portion of lease liabilities according to the IFRS consolidated statement of cash flow. Swedish. From a qualitative standpoint, its simplicity, entrepreneurial spirit and speed of execution continued to pay off. 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 slightly reduced capacity, which is quickly normalizing, while the plants in Italy and all other locations are currently running at full capacity. Vogue Eyewear website. to Essilor), which is expected to occur within the coming weeks. FraudOn December 30, 2019, EssilorLuxottica announced that its subsidiary Essilor International discovered fraudulent financial activities in one of its plants in Thailand. * 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. "Since EssilorLuxottica was formed on October 1, 2018, it has fully embraced its mission to help people see more, be more and live life to its fullest. 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. Wholesale growth was basically driven by Mainland China, where the business restarted on much cleaner basis. Key milestones in 2019 included the launch of Transitions® Signature® GEN 8TM in the US market, the success of the Vision-R™ 800 phoropter in Europe, double-digit growth both in China, thanks to branded lenses (notably EyezenTM, Crizal® and Varilux®), and Latin America owing to market expansion activities and a new partnership with a key player in the region. Adjusted6 Gross profit in 2019 ended at Euro 10,887 million, representing 62.6% of revenue versus 63.0% in 2018. Consolidated statement of financial position, Net Debt and cash flow, Condensed consolidated statement of financial position. Recovery of misappropriated funds: The company progressed with freezing funds on different bank accounts in several jurisdictions. Revenue growth at constant exchange rates 2 of 4.4%, compared to 3.2% in 2018 pro forma 1; Adjusted 6 operating profit: Euro 2,812 million, 16.2% of revenue Official Social Media. 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.The Equipment division continued its strong performance in the fourth quarter, ending the year sharply higher. 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. It continued to diversify its distribution network in the United States and to expand its international and online operations.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. Solid growth, sound profitability and cash flowA robust foundation for EssilorLuxottica. 100 First Stamford Place Stamford, Connecticut 06902 (203) 363-7300. The gross margin at Luxottica was broadly stable, despite the slight dilution generated by the fast-growing managed vision care business. Income taxes are adjusted for an amount of Euro (74) million corresponding to the tax effect of the above-mentioned adjustments for Euro (27) million and to a non-recurring tax income of Euro (47) million. And in China, Essilor worked with the Huoqiu County to eliminate poor vision in the county within three years. 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