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Luxottica Touts Sales of 36 Billion Euros in Four Years

MILAN — Luxottica Group chairman Leonardo Del Vecchio on Wednesday took the opportunity to take stock of the Italian eyewear company’s performance over the past four years after the last board meeting before the delisting from the Italian Stock Exchange on March 5. The delisting follows the birth of EssilorLuxottica on Oct.1 last year. Luxottica trumpeted cumulative results of the last four years, with estimated 2018 figures, compared to the period 2010-13: Cumulative sales increased by around 40 percent to 36 billion euros from 26 billion euros; adjusted operating income increased by approximately 60 percent to 5.7 billion euros; adjusted net profit increased by approximately 80 percent and estimated in a graphic to be a little below 1 billion euros totaled in 2017; adjusted net margin rose to more than 10 percent from around 7.5 percent. The group also touted strong value creation for all shareholders, with a cumulative dividend in the last four years that nearly doubled its value compared to the period 2010-13. The 2018 financial information has not yet been approved by the board and complete 2018 results will be reported on March 8. Thanking the board for its “full support” to the management over the past four years, Del Vecchio said

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