EssilorLuxottica Group: growth at constant exchange rates

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Last year, the EssilorLuxottica Group recorded an adjusted net profit of €1.871 billion, and revenues up to €16.1 billion with a 3.2% growth at constant exchange rates (-1.2% at variable rates). This is what emerges from the eyewear leader’s first integrated data after the company’s BoD meeting in Paris, where they anticipated a 3.5% to 5% growth in revenues for 2019, and proposed a dividend distribution of €2.04 per share.

According to this year’s estimates against sales growth, their operating profit will increase by a multiplier of 0.8 to 1.2, and net profit is expected to increase by a 1% to 1.5%.

“EssilorLuxottica has a chance to create relevant value through revenue and cost synergies – under the current structure, these are expected to have an annual net impact on operating profit ranging from €420 to €600 million by the next five years”, the Group explained. “We also expect revenue synergies for €200 to €300 million, as a result of our ability to develop premium groundbreaking products by optimizing the frame/lenses combination, and to deliver enhanced services to the industry via a broader distribution and a more efficient logistics platform.”

Once our integration with Essilor is complete and the expected synergies achieved, we will redesign together a revolutionary service model to the benefit of our wholesale partners and consumers worldwide

said Leonardo del Vecchio, executive chairman of EssilorLuxottica.

Luxottica’s contribution is key

he added

as their sales, profitability and cash flow are all positive, net of exchange differences. Our merging process has started under the best possible conditions, as we have been able to bring along our beloved brands, strong operational capacity and fully digitalized organization

 

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