Shareholders will be offered the option of receiving their dividend in cash or in newly issued shares. 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. 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. The gross margin at Luxottica was broadly stable, despite the slight dilution generated by the fast-growing managed vision care business. 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. assist investors in their assessment of the Group’s operating performance and its ability to refinance its debt as it matures and incur additional indebtedness to invest in new business opportunities; assist investors in their assessment of the Group’s cost of debt; ensure that these measures are fully understood in light of how the Group evaluates its operating results and leverage; properly define the metrics used and confirm their calculation; and. 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. Executive Offices. 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. For further details, please refer to the table in the Appendix.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.3 Like-for-like: growth at constant scope and exchange rates.4 Fast-growing countries or markets: include China, India, ASEAN, South Korea, Hong Kong, Taiwan, Africa, the Middle East, Russia, Eastern Europe and Latin America.5 Comparable store sales or comps: reflect, for comparison purposes, the change in sales from one period to another by taking into account in the more recent period only those stores already open during the comparable prior period. EssilorLuxottica consolidated statement of profit or loss. 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. Swedish. The Instruments business saw strong growth in 2019, fueled by the launch and marketing of two major new products during the year: Visioffice® X, a tool for personalizing lenses in optical stores, and the Vision-R™ 800 phoropter. 5 Fast-growing countries include China, India, ASEAN, South Korea, Hong Kong, Taiwan, Africa, the Middle East, Russia and Latin America.6 Contribution from operations: Revenue less cost of sales and operating expenses (research and development costs, selling and distribution costs and other operating expenses).7 Comparable store sales reflect the change in sales from one period to another that, for comparison purposes, includes in the calculation only stores open in the more recent period that also were open during the comparable prior period, and applies to both periods the average exchange rate for the prior period and the same geographic area.8 Free cash flow is defined in the appendix. In e-commerce, online sales in Brazil continue to develop rapidly. Seine Aktien werden an der Pariser Börse als Teil des CAC40 gehandelt. Charenton-le-Pont, France (March 8, 2019) - The Board of Directors of EssilorLuxottica met on March 7, 2019 to approve the financial statements for 2018. Recent Annual Reports and Proxies. 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.In 2019, Essilor worked toward this goal through partnerships to eliminate poor vision in many regions. In 2018, sales from Luxottica's e-commerce platforms, representing approximately 5% of total sales, were up 14% at constant exchange rates3. This section is dedicated to Luxottica's investors. 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. EssilorLuxottica is a global leader with an ambition to grow the industry. 100 First Stamford Place Stamford, Connecticut 06902 (203) 363-7300. GrandVisionThe European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. Strategic and business integration matters, along with governance topics, are being considered and worked upon by the management teams of Essilor International and Luxottica, in order to ensure a seamless execution of the synergy plan and the growth strategy of EssilorLuxottica. EssilorLuxottica can rely on a worldwide network of plants and laboratories, which allow flexibility and continuity. 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. Non-recurring expenses for Euro 36 million accounted for in Other income / (expenses) including: loss on assets disposal for Euro 5 million following the request from the Turkish Antitrust authorities to divest Merve as a condition precedent to approve the combination of Essilor and Luxottica; net loss impact of the change in consolidation scope of one entity for Euro 24 million; net negative impact of Euro 5 million related to other non-recurring transactions mainly linked to significant claims and litigations; and. These access points delivered vision solutions to 10.7 million new eyeglass wearers in 2019 alone, bringing the total for the past seven years to 33.5 million.These efforts earned EssilorLuxottica the 17th spot in Fortune Magazine’s annual Change the World list in 2019. Get Access Now. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. (c) Net Debt is presented in the Note 22 - Financial debt, including lease liabilities to the consolidated financial statements; its components are also reported in the paragraph Consolidated statement of financial position, Net Debt and cash flow. They would aim at optimizing the Company’s global infrastructure. Moreover, in the wake of this incident, Essilor International reorganized its Treasury and local management in Thailand. Annual Report 2019. Growth was fueled by value-added lenses in all countries.The Sunglasses & Readers division continued to benefit from its expansion in optical frames and online sales, primarily in China.Following an exceptional performance through the first nine months of the year, the Equipment division slowed down during the fourth quarter. These financial statements were audited by the Statutory Auditors whose certification report is in the process of being issued. Download here 8 March 2019 Annual Report 2018 https://annualreport2018.grandvision.com 6 August Revenue for the year totaled Euro 17,390 million, an increase of 7.4% in current exchange rates and 4.4% in constant exchange rates2 when compared to 2018. Contingency plans can be activated in case of a protracted pandemic. SEC Filings. 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. 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. 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