Record results for Luxottica Group in the second quarter of 2015
Group’s adjusted3,5 net sales +21.4% breaking the ceiling of Euro 2.5 billion
Adjusted3,5 net income of Euro 314 million (+34%)
- Group’s adjusted3,5 net sales +21.4% (+6.6% at constant exchange rates2) to Euro 2.5 billion
- Wholesale division’s net sales +14.3% (+6.1% at constant exchange rates2) to Euro 1.1 billion
- Retail division’s adjusted3,5 net sales +27.3% (+7.1% at constant exchange rates2) to Euro 1.4 billion
- Adjusted3,5 operating income +31%, adjusted3,5 operating margin up by 160 bps to 20.8%
- Record adjusted3,5 net income of Euro 314 million with an adjusted3,5 net margin of 12.6%
- Free cash flow3 generation: Euro 261 million
- Ongoing investments to support long-term growth
Milan (Italy), July 27, 2015 - The Board of Directors of Luxottica Group S.p.A. (MTA: LUX; NYSE: LUX), a leader in the design, manufacture and distribution of fashion, luxury and sports eyewear, met today to review the consolidated net sales and preliminary results for the second quarter and the six months ended June 30, 2015 in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (IFRS).
3 EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, adjusted net sales, adjusted operating income/profit, adjusted operating margin, free cash flow, net debt, net debt/adjusted EBITDA ratio, adjusted net income and adjusted EPS are not measures in accordance with IFRS.
5 The adjusted data for the three-month and six-month periods ended June 30, 2015 (i) do not take into account a change in the presentation of a component of EyeMed net sales that was previously included on a gross basis and is currently included on a net basis due to a change in the terms of an insurance underwriting agreement, resulting in a reduction to net sales on a reported basis of approximately Euro 44 million in the second quarter and approximately Euro 86 million in the first half and (ii) exclude the costs relating to the Oakley integration project (including minor reorganization activities across the Group) which had a Euro 20.4 million impact on Group operating income and a Euro 19.6 million impact on Group net income in the second quarter.