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Financial Highlights

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Luxottica reports accelerated growth in 2Q 2014: net sales of Euro 2.1 billion (+7.0% at constant exchange rates2), record operating income and free cash flow3

Overview

  • Operating income for the second quarter of 2014 was Euro 396 million (+6.9% over the adjusted3,5 Euro 371 million operating income reported during the second quarter of 2013).
  • Operating margin increased from adjusted3,5 18.4% in the second quarter of 2013 to 19.2% in the second quarter of 2014.
  • Net income for the second quarter of 2014 increased to Euro 235 million (Euro 218 million in the second quarter of 2013), resulting in EPS (earnings per share) of Euro 0.49. EPS in U.S. dollars was US$ 0.68.

 

Consolidated income statement for the three-month periods ended June 30 2014 and June 30, 2013 

KEY FIGURES IN THOUSANDS OF EURO (1)2014 % of sales 2013 % of sales % Change 
NET SALES  2,059,979 100.0% 2,017,608 100.0% 2.1%
COST OF SALES (685,672)   (663,283)    
GROSS PROFIT 1,374,307 66.7% 1,354,325 67.1% 1.5%
OPERATING EXPENSES:          
SELLING EXPENSES (572,435)   (582,500)    
ROYALTIES (39,626)   (40,163)    
ADVERTISING EXPENSES (140,290)   (133,764)    
GENERAL AND ADMINISTRATIVE EXPENSES (225,823)   (236,225)    
TOTAL (978,175)   (992,651)    
OPERATING INCOME  396,132 19.2%  361,674 17.9% 9.5%
OTHER INCOME (EXPENSE):          
INTEREST INCOME   3,009    2,490    
INTEREST EXPENSES (27,289)   (26,284)    
OTHER - NET  (1,698)    (4,285)    
OTHER INCOME (EXPENSES)-NET (25,978)   (28,080)    
INCOME BEFORE PROVISION FOR
INCOME TAXES
370,154 18.0%  333,594 16.5% 11.0%
PROVISION FOR INCOME TAXES (133,285)   (120,133)    
           
NET INCOME  236,869    213,461    
OF WHICH ATTRIBUTABLE TO:          
  - LUXOTTICA GROUP STOCKHOLDERS  235,214 11.4%  211,963 10.5% 11.0%
  - NON-CONTROLLING INTERESTS  1,655 0.1%  1,498 0.1%  
NET INCOME   236,869 11.5%  213,461 10.6% 11.0%
           
BASIC EARNINGS PER SHARE (ADS):  0.49    0.45    
FULLY DILUTED EARNINGS PER SHARE (ADS):  0.49    0.44    
WEIGHTED AVERAGE NUMBER OF
OUTSTANDING SHARES  
475,221,228   472,107,228    
FULLY DILUTED AVERAGE NUMBER OF SHARES    478,436,606   472,491,055    

 

1, 2, 3, 5 For further information, please see the press release

Last updated Jul 24 2014
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