FINANCIAL
HIGHLIGHTS

NET SALES AND ADJUSTED NET INCOME UP IN THE FIRST HALF ALONG WITH RECORD FREE CASH FLOW GENERATION

Overview

Adjusted figures

  • Group’s adjusted net sales +1.6% to approximately Euro 4,828 million at constant exchange rates and -0.7% to Euro 4,719 million at current exchange rates
  • Adjusted operating income +1.5% to approximately Euro 892 million at constant exchange rates and -2.5% to Euro 857 million at current exchange rates
  • Adjusted net income +5.6% to approximately Euro 554 million at constant exchange rates and +1.3% to Euro 532 million at current exchange rates

Reported figures

  • Group’s net sales +3.5% to approximately Euro 4,828 million at constant exchange rates and +1.1% to Euro 4,719 million at current exchange rates
  • Operating income -4.1% to approximately Euro 823 million at constant exchange rates and -8.2% to Euro 788 million at current exchange rates
  • Net income -1.4% to approximately Euro 498 million at constant exchange rates and -5.8% to Euro 476 million at current exchange rates

Record free cash flow generation to Euro 403 million

Reviewing expectations for FY 2016 due to the increasing market uncertainty

Consolidated income statement for the SIX-MONTH PERIODS ENDED JUNE 30, 2016 and JUNE 30, 2015 

 

KEY FIGURES IN THOUSANDS OF EURO2016% OF SALES2015% OF SALES% CHANGE
NET SALES 4,719,426 100.0% 4,666,712 100.0% 1.1%
COST OF SALES (1,620,578)   (1,476,094)    
GROSS PROFIT 3,098,848 65.7% 3,190,617 68.4% -2.9%
OPERATING EXPENSES:          
SELLING EXPENSES (1,428,173)   (1,397,199)    
ROYALTIES (88,585)   (89,565)    
ADVERTISING EXPENSES (282,850)   (305,974)    
GENERAL AND ADMINISTRATIVE EXPENSES (511,165)   (539,350)    
TOTAL (2,310,773)   (2,332,088)    
OPERATING INCOME 788,076 16.7% 858,529 18.4% -8.2%
OTHER INCOME (EXPENSE):          
INTEREST INCOME 6,207   5,384    
INTEREST EXPENSES (39,163)   (58,696)    
OTHER - NET 2,526   710    
OTHER INCOME (EXPENSES)-NET (30,430)   (52,602)    
INCOME BEFORE PROVISION FOR INCOME TAXES 757,646 16.1% 805,927 17.3% -6.0%
PROVISION FOR INCOME TAXES (280,621)   (299,156)    
NET INCOME 477,024 10.1% 506,770 10.9% -5.9%
OF WHICH ATTRIBUTABLE TO:          
- LUXOTTICA GROUP STOCKHOLDERS 475,683 10.1% 505,113 10.8% -5.8%
- NON-CONTROLLING INTERESTS 1,341 0.0% 1,658 0.0%  
NET INCOME 477,024 10.1% 506,770 10.9% -5.9%
BASIC EARNINGS PER SHARE (ADS): 0.99 1.05
FULLY DILUTED EARNINGS PER SHARE (ADS): 0.99 1.05
WEIGHTED AVERAGE NUMBER OF OUTSTANDING SHARES 480,424,539 478,819,264
FULLY DILUTED AVERAGE NUMBER OF SHARES 481,377,070 480,763,466

Notes:

For additional information about adjasted figures and non-IFRS measure please see the press release

Last updated: Apr 12 2016