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. New initiatives to respond to COVID-19 and mobilize our workforce, new products, new partnerships, a new record for our Special Lenses team, and accelerating the integration between Essilor and Luxottica… The European Commission has initiated a Phase II review of the proposed acquisition of GrandVision. Moreover, in the wake of this incident, Essilor International reorganized its Treasury and local management in Thailand. 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. 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. Group net debt amounted to Euro 4,046 million at the end of December 2019, compared to Euro 3,849 at the end of December 2018 (restated following the implementation of IFRS 16, Euro 300 to Euro 350 million in the period. Hong Kong retail remained negative, for the fourth consecutive year. The Retail business had a strong year with Target Optical and EyeMed leading the way at double-digit sales growth. In Latin America, revenue increased by 7.7% to Euro 1,108 million (+9.5% at constant exchange rates2). So far, the virus has also slightly impacted the Company's revenue performance in other regions. Essilor International; Published. Mainland China speeded up at double-digit pace, fueled by both revamped Wholesale and positive Retail in sales and comparable store sales5. Royalties of Euro 168 million, related to the Group's licensed frame brands. 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 presented in the consolidated statement of profit or loss. Its headquarters is based in Charenton-le-Pont (near Paris), France. "An ever-growing number of solutions in all price points to correct and protect eyesight." 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 Meeting: May 15, 2020; according to the IFRS consolidated statement of cash flow. 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. 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. In Nepal, the company signed a letter of intent to provide access to eye care to the 350,000 residents of the Bhaktapur district. Fiscal 2019 Results Versus 2018 Consolidated sales of $2,921.6 million were up 3.1% Brand Portfolio sales of $1,406.5 million, up 7.1%, driven by the companys 2018 acquisitions 1 Barberini S.p.A. annual consolidated revenue on a stand-alone basis, as disclosed at the time of the announcement of the acquisition (on June 22, 2019), which does not represent the net contribution to the EssilorLuxottica Group's turnover. 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. Essilor Experts™ are independent eyecare professionals who are specially trained to explain the many benefits of lenses from Essilor. #01 Connected life: take care of your eyes! Luxottica's turnover in Europe kept expanding in the last quarter of the year. However, please continue to check our website as we regularly publish new job offers. The Lenses & Optical Instruments division delivered strong in the region, with business up sharply in China, South Korea, Southeast Asia and Japan. In Asia, Oceania and Africa, revenue increased by 7.4% to Euro 2,892 million (+5.4% at constant exchange rates2). Performance was stronger in the second half owing to the launch of Transitions® Signature® GEN 8™. And in China, Essilor worked with the Huoqiu County to eliminate poor vision in the county within three years. This translated into strong revenue, free cash flow and net profit growth, in line with guidance. 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. This timeline depicts the global revenue of Essilor from 2008 to 2019. 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. All Forms filed with the U.S. Securities and Exchange Commission sorted by year. Brazil confirmed sound performance in the fourth quarter, even accelerating in retail sales at constant exchange rates2, essentially boosted by SGH comparable store sales5. In 2019, Essilor worked toward this goal through partnerships to eliminate poor vision in many regions. 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. 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. Date of payment: May 23, 2019. 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. This page shows recent SEC filings related to Essilor International SA > Download the pdf version of the news release > Download the 2018 Interim Financial Report in pdf version Charenton-le-Pont, France (July 26, 2018 – 6:30 am) – The Essilor International (Compagnie Générale d’Optique) 2018 Interim Financial Report is being published today. filter by year. In 2019, Optical House generated around Euro 65 million of revenue. These investments include mainly the effects of the business combinations completed in 2019, which include mainly Barberini S.p.A., the world's leading optical glass sun lens manufacturer, as well as the acquisitions of Brille 24 in the online business, Devlyn in Mexico, Future in Sweden, and Optimed in the instruments division. For better navigation,we recommend viewing the sitein portrait mode, VISUAL HEALTH, A MAJOR PUBLIC HEALTH CONCERN, Addressing the global need and reaching the 2.7 billion underserved, VISUAL HEALTH, A MAJOR PUBLIC HEALTH CONCERN, #02 Presbyopia: Improving vision for today’s consumers & lifestyles. Lastly, Essilor put its culture of innovation to work for Base of Pyramid consumers in 2019: it developed new refraction technologies to make eye screening available to all, and launched the new "Ready2Clip Generation II" prescription glasses that can be dispensed on the spot. The company has been plagued by a power struggle since French lens-maker Essilor International Inc. agreed to combine with Italian counterpart Luxottica Group SpA in 2017. Over the course of 2019, Essilor worked toward this goal through partnerships to eliminate poor vision in many regions. 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. The growth in Wholesale was reinforced by the solid performance in the independent, department store and the third-partye-commerce channels. Intangible, Tangible and Right-of-use are mainly related to intangible assets recognized as part of the purchase price allocation finalized on the EssilorLuxottica Combination for around Euro 11 billion and to the right-of-use assets recognized following the implementation of the new accounting standard IFRS 16 Leases. 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. This included a renewed effort in marketing campaigns on lens brands. Here you will find the financial press releases of EssilorLuxottica. 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. On the opposite, Hong Kong did not improve. On December 5, 2019, EssilorLuxottica announced the closing of the disposal of its 100% stake in Merve Optik in Turkey. • Until May 31, 2019 (5 months): €1,150,000 • As from June 1, 2019 (7 months): €1,000,000 following the delegation of authority announced at the 2019 Annual General Meeting (2) At the Board of Directors’ Meeting of March 5, 2020, Leonardo Del Vecchio declared his intention to waive his variable component for 2019 in Late in 2019, Costa started being integrated into the Luxottica portfolio, which should help this young brand expand its global footprint more quickly and benefit from significant synergies, given Luxottica's expertise in sunwear. In the prior fiscal year, targeted investments helped ZEISS shape the future. 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). Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux® and Transitions®, and world-class retail brands including Sunglass Hut and LensCrafters are part of the EssilorLuxottica family. Recovery of misappropriated funds: The company progressed with freezing funds on different bank accounts in several jurisdictions. In 2020, the Group will continue investing in production, development of the retail network, integration activities, M&A and partnerships projects. This partnership promotes global action on good vision for road users while contributing to the United Nations' Sustainable Development Goals. E-commerce activity in Brazil supported regional growth. The Lenses & Optical Instruments division generated significantly improved growth at constant exchange rates2 for the full year 2019 when compared to 2018 consisting of balanced growth in Brazil and Spanish speaking markets through most of the year. A world first, the latter radically changes the eye exam process and customer experience, allowing measurement up to 0.01 diopter versus 0.25 diopter with other machines on the market. Weighted average number of shares outstanding: Earnings per share (EPS) for net profit attributable to owners of the parent: Consolidated statement of financial position, Net profit attributable to owners of the parent, EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT, Equity attributable to non-controlling interests, Expense arising from share-based payments, NET CASH FLOWS PROVIDED BY / (USED IN) OPERATING ACTIVITIES, Purchase of property, plant and equipment and intangible assets, Disposal of property, plant and equipment and intangible assets, Acquisitions of businesses, net of cash acquired, NET CASH FLOWS PROVIDED BY / (USED IN) INVESTING ACTIVITIES, 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, NET CASH FLOWS PROVIDED BY / (USED IN) FINANCING ACTIVITIES, NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS, Cash and cash equivalents at the beginning of the financial year, Effects of exchange rate changes on cash and cash equivalents, CASH AND CASH EQUIVALENTS AT THE END OF THE FINANCIAL, EssilorLuxottica SA published this content on 06 March 2020 and is solely responsible for the information contained therein. As presented in the consolidated statement of cash flows. Adjusted6 Operating expenses: +6.4% at current exchange rates and +3.5% at constant exchange rates2. 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. 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. Performance of the sun category stood out in the fourth quarter. Essilor International S.A. is a French-based international ophthalmic optics company that designs, manufactures and markets lenses to correct or protect eyesight. 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. At the current level, inventory is sufficient to meet several weeks of demand. On the Retail side, sales were up mid-single digit, led by LensCrafters delivering strong results especially during the ramp up towards the end of the insurance year. This peer group ... 2019 Annual Incentive, as well as 2017 Long-Term Incentive performance criteria were adequate. 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 Board of Directors of Essilor met on July 25, 2018 to approve the financial statements for the six months ended June 30, 2018. Both Luxottica divisions posted the best quarter of the year. These efforts earned EssilorLuxottica the 17 th spot in Fortune Magazine's annual Change the World list in 2019. In addition to revolutionizing optometry, the Vision-R™ 800 paves the way for ophthalmic lenses with much greater accuracy. EXCERPTS FROM THE RESTATED UNAUDITED PRO FORMA CONSOLIDATED FINANCIAL INFORMATION, EXCERPTS FROM THE CONSOLIDATED GROUP FINANCIAL STATEMENTS. Additional funds are currently being traced. 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. On a global basis, the program is now comprised of approximately 16,600 doors, representing over 13% of sales for the Wholesale division. The Board of Directors will recommend that shareholders at the Annual Meeting to be held on May 16, 2019 approve the payment of a dividend of Euro 2.04 per share. 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. These efforts earned EssilorLuxottica the 17th spot in Fortune Magazine's annual Change the World list in 2019. Capital expenditures amounted to Euro 903 million, representing 5.2% of Group's revenue. Optical House operates through a network of around 190 stores under the Luxoptica brand and is the country's leading wholesale platform for lenses, frames and contact lenses. 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. Adjusted6 Gross profit: +6.6% at current exchange rates and 3.5% at constant exchange rates2. The adjusted6 Cost of net debt declined to Euro 115 million in 2019 from Euro 149 million due to a decrease in the Company's financing cost and despite an exceptional cash disbursement to complete EssilorLuxottica's Mandatory Tender Offer for Luxottica shares. Ex-date: May 21, 2019. The company was established in 1972 after the merging of … The Equipment division had a strong finish to the year in the fourth quarter, following an exceptional third quarter performance. In particular, management adjusted the following measures: Gross profit, Operating expenses, Operating profit, Profit before taxes and Net profit. GMO closed the year positive in sales and comparable store sales5, absorbing the negative impact of the protests in Chile and Ecuador in the last quarter. The Wholesale division saw robust trends in particular in Spain, Portugal, Greece, UK, Turkey and Eastern Europe. The Company announced on December 30, 2019 that it had discovered fraudulent financial activity at an Essilor plant in Thailand. 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. They would aim at optimizing the Company's global infrastructure. 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. Operating cash-flow before changes in working capital amounted to Euro 3,351 in 2019. 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?". EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. ... annual report and there will be no retroactive changes Remuneration elements in % 50 46 25 24 25 30 In Nepal, the company signed a letter of intent to provide access to eye care to the 350,000 residents of the Bhaktapur district. In Europe Sunglass Hut and Salmoiraghi & Viganò kept nicely growing, like both optical and sun business did in Australia and sun in Brazil. The dividend will be paid - or the shares issued - as from June 15, 2020. Financial investments net of cash acquired, plus debt of. The comparability in 2019 consolidated financial statements is still affected by the EL Combination which occurred on October 1, 2018. Contingency plans can be activated in case of a protracted pandemic. Growth was fueled by value-added lenses in all countries. 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. Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP. 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. However, since the 2018 information presented in the statement of profit or loss is affected by the accounting of the combination between Essilor and Luxottica, the financial information deemed relevant to compare 2019 performance is based on the restated pro forma1 information for the year ended December 31, 2018. Financial Press Releases. Financial investments net of cash acquired amounted to Euro 370 million in 2019, compared to Euro 289 million in 2018. On the Essilor side, the positive effect from the Transitions Generation 8 launch was more than offset by portfolio mix effects stemming from faster growth in online contact lens sales and Sunglasses & Readers as well as a negative impact from the obsolescence of the Transitions Generation 7 product. The issuance of the Euro 5 billion bond in November did not have a material impact in 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). 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. 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. > Download the pdf version of the news release, > Download the 2018 Interim Financial Report in pdf version. Enter this section to read more and get in touch with the Financial Communication and Investor relations team. For financial reporting, their fiscal year ends on December 31st. 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. Elsewhere in Europe, revenue was either flat or slightly lower. Strong foundation to accelerate synergy delivery. Since this transaction has been considered a reverse acquisition according to the requirements of IFRS 3 Business Combinations, the consolidated financial statements reflect the following structure: EssilorLuxottica consolidated statement of profit or loss: reconciliation with adjusted6 figures. Essilor €7.46 B in annual revenue in FY 2018. 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. 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). 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. 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. The division showed strength across all regions through a continued focus on innovation, fast growing markets4 and e-commerce. In Europe, revenue increased by 4.9% to Euro 4,236 million (+5.1% at constant exchange rates2). 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