2018 pro forma results
Solid growth, sound profitability and cash flow
A robust foundation for EssilorLuxottica
- Pro forma1 revenue: +3.2% at constant exchange rates3
- Pro forma1 adjusted2 operating profit: 15.9% of revenue
- Pro forma1 adjusted2 net profit: 11.6% of revenue
- Combined free cash flow8: Euro 1.8 billion
- Dividend recommendation: Euro 2.04 per share
- Confirmation of Euro 420 to Euro 600 million net synergy target at operating profit level within five years
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. The 2018 IFRS consolidated financial statements were audited by the Statutory Auditors whose certification report is in the process of being issued. The Board of Directors has also approved the unaudited pro forma1 consolidated financial information, which has been prepared for illustrative purposes only.
“We are proud to present strong Luxottica and Essilor combined results. The contribution of Luxottica is significant: net sales, profitability and free cash flow all show positive growth, excluding the exchange rate effect. From a qualitative standpoint, its simplicity, entrepreneurial spirit and speed of execution continued to pay off. Today, Luxottica is well organized and energized for its future as part of EssilorLuxottica. We come to the integration process in the best possible way, bringing with us the most beloved brands, excellent operations capabilities and a digitized business inside and out. Our legacy will continue to grow in this way for years to come. Once we are fully integrated with Essilor and our synergies have taken effect, together we will redefine a revolutionary service model for the benefit of wholesale partners and consumers everywhere," commented Leonardo Del Vecchio, Executive Chairman of EssilorLuxottica.
“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. To reach this powerful goal, the Group can rely on an outstanding performance from Essilor, which delivered strong business growth at all its divisions in 2018 and surpassed its growth targets for the year while continuing to work on numerous innovations that will benefit the entire ophthalmic optics and eyewear industries. 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. 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.
A 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: