Euro 300 to Euro 350 million in the period 2019-2021; Euro 420 to Euro 600 million by 2022-2023. Management ChangesEssilorLuxottica confirms that the search for a new CEO is ongoing. 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. Advertising and marketing costs of Euro 1,236 million included the impact of investments to drive future growth. The Wholesale channel showed steadily growth over the year, supported by volumes expansion. 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. Conference callA conference call in English will be held today at 11 am CET.The meeting will be available live and on a replay mode at:https://channel.royalcast.com/webcast/essilorluxotticaen/20200306_1/. Home | A message from our CEO. Both Luxottica divisions posted the best quarter of the 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. GrandVisionThe European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. EssilorLuxottica can rely on a worldwide network of plants and laboratories, which allow flexibility and continuity. The Statutory Auditors have performed a … Recovery of misappropriated funds: The company progressed with freezing funds on different bank accounts in several jurisdictions. 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. 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 addition to revolutionizing optometry, the Vision-R™ 800 paves the way for ophthalmic lenses with much greater accuracy.Within the Sunglasses & Readers division, FGX International delivered robust sales, notably in the United Kingdom and Germany.The Equipment division had a strong finish to the year in the fourth quarter, following an exceptional third quarter performance. (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. The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. Finally, Persol opened its first store in Europe (in Milan). Luxottica continued to grow in Latin America last year, expanding sales at constant exchange rates2 in both Wholesale and Retail divisions. 2019 is the first year in which EssilorLuxottica’s consolidated statement of profit or loss shows the full year performance of both Essilor’s and Luxottica’s businesses. 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. 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. FraudThe Company announced on December 30, 2019 that it had discovered fraudulent financial activity at an Essilor plant in Thailand. 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. 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. Special Reports. Luxottica Group is a leader in premium, luxury and sports eyewear with over 7,400 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a Contingency plans can be activated in case of a protracted pandemic. Revenue in Japan got a lift from value-added lenses and a series of commercial successes with optical chains.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. Annual Report 2019. 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