Luxottica Group approves IFRS results for first half of 2007
Milan, Italy, September 26, 2007 - 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 International Financial Reporting Standards (IFRS) Consolidated Financial Statements for the six-month period ended June 30, 2007.
The Group has already reported its U.S. GAAP results for the first half of 2007 on July 26, 2007, with an increase in net sales of 7.4 percent to €2,626.6 million; a 20.3 percent increase in operating income to €486.6 million and a 26.9 percent increase in net income to €282.8 million. Luxottica Group's financial communications are made based on its U.S. GAAP financial statements.
About Luxottica Group S.p.A.
Luxottica Group is a global leader in eyewear, with over 5,900 optical and sun retail stores in North America, Asia-Pacific, China, South Africa 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, Polo Ralph Lauren, Prada, Salvatore Ferragamo and Versace, 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 2006, Luxottica Group (NYSE: LUX; MTA: LUX) posted consolidated net sales of €4.7 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, the risk that the merger with Oakley will not be completed, the ability to successfully introduce and market new products, the ability to maintain an efficient distribution network, the ability to predict future economic conditions and changes in consumer preferences, the ability to achieve and manage growth, the ability to negotiate and maintain favorable license arrangements, the availability of correction alternatives to prescription eyeglasses, fluctuations in exchange rates, the ability to effectively integrate recently acquired businesses, as well as other political, economic and technological factors and other risks and uncertainties described in our filings with the U.S. Securities and Exchange Commission. These forward-looking statements are made as of the date hereof, and we do not assume any obligation to update them.
Company media and investor relations contacts
Luxottica Group S.p.A.
Carlo Fornaro, Group Corporate Communications Director
+39 (02) 8633 4062
Luca Biondolillo, Head of International Communication
+39 (02) 8633 4668
Alessandra Senici, Group Investor Relations Director
Tel.: +39 (02) 8633 4069,