The gross margin at Luxottica was broadly stable, despite the slight dilution generated by the fast- growing managed vision care business. This page shows recent SEC filings related to Essilor International SA Changes in working capital requirement amounted to Euro 52 million against Operating cash-flow. In particular, management adjusted the following measures: Gross profit, Operating expenses, Operating profit, Profit before taxes and Net profit. 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. Special Reports. The Equipment division posted solid growth as market conditions in fast growing markets remained favorable. 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). This timeline depicts the global revenue of Essilor from 2008 to 2019. The company was established in 1972 after the merging of … 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. The benefit from the consolidation of Barberini weighted to a smaller extent. A conference call in English will be held today at 11 am CET. 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. 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). Gains were driven by value-added lenses, especially progressive lenses. 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. In Asia, Oceania and Africa, revenue increased by 7.4% to Euro 2,892 million (+5.4% at constant exchange rates2). Ray-Banmono-brand store roll-out made further progress last year in the region, focused on Mainland China which reached 141 locations at the end of December, out of a total 171 in the whole Asia-Pacific area. 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. The comparative period has been restated in accordance with the transitional requirements of the initial application of IFRS 16 -, The comparative period has been restated in accordance with the transitional requirements of the initial application of IFRS, Italy's Del Vecchio leads UniCredit investor opposition to MPS deal -sources, https://channel.royalcast.com/webcast/essilorluxotticaen/20200306_1/, Consumer Cos Fall As Stimulus Negotiations Drag On -- Consumer Roundup, Chief Executive Officer & Non-Independent Director. 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. 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 Europe revenue increased by 5.7% to Euro 971 million (+4.9% at constant exchange rates2). The current COVID-19 epidemic has a negative impact on the Company's business in Greater China, which represents approximately 5% of consolidated revenue. In 2020, the Group will continue investing in production, development of the retail network, integration activities, M&A and partnerships projects. Elsewhere in the region growth was supported by continued market development and improved product mix, which more than offset economic headwinds in select markets, notably Chile and Colombia. Essilor International; Published. The key market of Brazil kept the positive momentum it showed throughout the entire year, made of high-single digit growth in Wholesale, boosted by STARS and Óticas Carol (reaching 1,335 franchise locations), as well as double- digit growth in Retail, primarily sustained by SGH. 2 Constant exchange rates: figures at constant exchange rates have been calculated using the average exchange rates in effect for the corresponding period in the previous year. Essilor Experts™ are independent eyecare professionals who are specially trained to explain the many benefits of lenses from Essilor. Sunglasses & Readers performance in the United States was driven primarily by FGX during the fourth quarter. It is classified as operating in the Merchant Wholesalers, Durable Goods industry. The final appointment is expected to be made by the end of 2020. The Company has started to drive integration and deliver revenue and cost synergies. On a consolidated financial basis, Europe and Asia contributed to growth while North America and Latin America were headwinds. Please attach your CV and letter of motivation which we will review carefully. 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. 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. And in China, Essilor worked with the Huoqiu County to eliminate poor vision in the county within three years. 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. Annual Shareholders' Meetings; Regulatory Information; Investor Relations contacts ... Close. In Nepal, the company signed a letter of intent to provide access to eye care to the 350,000 residents of the Bhaktapur district. The order book ended the year slightly up. These adjustments are described below. 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 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. 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. The Equipment division had a strong finish to the year in the fourth quarter, following an exceptional third quarter performance. The Sunglasses & Readers division also saw double-digit revenue growth in the region with excellent results at Xiamen Yarui Optical (BolonTM and MolsionTM) in optical frames and robust online sales. 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. Recovery of misappropriated funds: The company progressed with freezing funds on different bank accounts in several jurisdictions. The dividend will be paid - or the shares issued - as from June 15, 2020. The Equipment division grew by 2% at constant exchange rates2 with a mix of solid market trends in Europe, Latin America and Asia offset by a slowdown in the capital investment cycle in other developed markets, partly due to industry consolidation. 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. Robust growth continued with Alliance members and Essilor Experts while key accounts expanded at a modest pace. 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. 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