Luxottica Group approves IFRS results for first half of 2006
Milan, Italy, September 27, 2006 - Luxottica Group S.p.A. (NYSE: LUX; MTA: LUX), today announced that, in accordance with Italian Law, at a meeting held today its Board of Directors approved the Consolidated Financial Statements for the six-month period ended June 30, 2006, based on International Financial Reporting Standards (IFRS).
The Group has already reported U.S. GAAP results for the six-month period on July 27, 2006, with net sales up by 17.1 percent to € 2,556.8 million; operating income up by 35.3 percent to € 408.9 million and net income up by 34.1 percent to € 224.5 million. Luxottica Group's financial communication is made in accordance with U.S. GAAP.
About Luxottica Group S.p.A.
Luxottica Group is a global leader in eyewear, with nearly 5,700 optical and sun retail stores in North America, Asia-Pacific, China and Europe and a strong brand portfolio that includes Ray-Ban, the best selling sun and prescription eyewear brand in the world, as well as, among others, license brands Bvlgari, Burberry, Chanel, Dolce & Gabbana, Donna Karan, Prada, Versace and Polo Ralph Lauren, beginning January 2007, and key house brands Vogue, Persol, Arnette and REVO. In addition to a global wholesale network that touches 130 countries, the Group manages leading retail brands such as LensCrafters and Pearle Vision in North America, OPSM and Laubman & Pank in Asia-Pacific, and Sunglass Hut globally. The Group’s products are designed and manufactured in six Italy-based high-quality manufacturing plants and in the only two China-based plants wholly-owned by a premium eyewear manufacturer. For fiscal year 2005, Luxottica Group (NYSE: LUX; MTA: LUX) posted consolidated net sales of €4.4 billion. Additional information on the Group is available at www.luxottica.com.
Safe Harbor Statement
Certain statements in this press release may constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those which are anticipated. Such risks and uncertainties include, but are not limited to, fluctuations in exchange rates, economic and weather factors affecting consumer spending, the ability to successfully introduce and market new products, the availability of correction alternatives to prescription eyeglasses, the ability to successfully launch initiatives to increase sales and reduce costs, the ability to effectively integrate recently acquired businesses, including Cole National, risks that expected synergies from the acquisition of Cole National will not be realized as planned and that the combination of Luxottica Group’s managed vision care business with Cole National will not be as successful as planned, as well as other political, economic and technological factors and other risks referred to in Luxottica Group’s filings with the U.S. Securities and Exchange Commission. These forward-looking statements are made as of the date hereof and, under U.S. securities regulation, Luxottica Group does not assume any obligation to update them.
Company media and investor relations contacts
Luxottica Group S.p.A.
Head of Communications
Tel.: +39 02 8633-4062
Senior Manager, Investor Relations
Email : AlessandraSenici@Luxottica.com
Tel.: +39 02 8633-4069