Financial overview
The first quarter has marked a strong, solid start to the year, sustained by all of Luxottica’s leading brands in all the geographic areas important to the Company
- Net sales reached approximately Euro 1.9 billion (+5.6% at constant exchange rates1), with double-digit growth in emerging markets (+17% at constant exchange rates1,6)
- Operating income for the period rose to Euro 275 million (+7.7%3). The Group’s operating margin therefore rose to 14.7% in 1Q 2013 from an adjusted operating margin3,4 of 14.3% in 1Q 2012
- Net income increased to Euro 159 million (+10.5%3) from adjusted net income3,4 of Euro 144 million reported in the first quarter of 2012, corresponding to earnings per share (EPS) of Euro 0.34
| (Figures in thousands of euro)1 | 1Q 2013 | % of sales | 1Q 2012 | % of sales | % change |
|---|---|---|---|---|---|
| Net sales |
1,864,119 |
100.0% |
1,788,172 |
100.0% |
4.2% |
| Cost of sales |
(645,713) |
(622,564) |
|||
| Gross profit |
1,218,406 |
65.4% |
1,165,608 |
65.2% |
4.1% |
| Operating expenses: | |||||
| Selling expenses |
(562,685) |
(571,572) |
|||
| Royalties |
(36,170) |
(32,518) |
|||
| Advertising expenses |
(111,553) |
(101,978) |
|||
| General and administrative expenses |
(233,181) |
(225,945) |
|||
| Total |
(943,589) |
(932,013) |
|||
| Operating income | 274,817 | 14.7% | 233,595 | 13.1% | 17.6% |
| Other income (expense): | |||||
| Interest expenses |
(26,555) |
(36,984) |
|||
| Interest income |
2,548 |
5,417 |
|||
| Other - net |
177 |
(69) |
|||
| Other income (expenses)-net |
(23,830) |
(31,636) |
|||
| Income before provision for income taxes |
250,987 |
13.5% |
201,960 |
11.3% | 24.3% |
| Provision for income taxes |
(90,366) |
(71,061) |
|||
| Net income |
160,622 |
8.6% |
130,899 |
7.3% | 22.7% |
| Of which attributable to: | |||||
| - Luxottica Group stockholders |
159,234 |
8.5% |
128,976 |
7.2% |
23.5% |
| - Non-controlling interests |
1,387 |
0.1% |
1,923 |
0.1% | |
| Net income |
160,622 |
8.6% |
130.899 |
7.3% | 22.7% |
| Basic earnings per share (ads): |
0.34 |
0.28 |
|||
| Fully diluted earnings per share (ads): |
0.34 |
0.28 |
|||
| Weighted average number of outstanding shares |
469,697,345 |
462,217,203 |
|||
| Fully diluted average number of shares |
472,742,228 |
464,615,581 |
1, 3, 4, 6: for further information, see press release
Last update: 30 APRIL 2013
