EssilorLuxottica: Full year 2020 results // Resilience, digitalization and synergies lead to strong recovery and solid foundations for the future
Full year 2020 resultsResilience, digitalization and synergies lead to strong recovery and solid foundations for the futureSwift reaction to COVID-19 pandemic in favor of employees, customers and society at largeSolid sequential revenue recovery between first and second half of the yearLenses & Optical Instruments, Retail and e-commerce drive momentumRich innovation pipeline and brand investments position Company optimally for the futureStrong rebound in reported3 as well as adjusted2 operating margin in the second halfFree cash flow4 exceeds prior year, synergies and integration on track Charenton-le-Pont, France (March 12, 2021 – 7:00am) – The Board of Directors of EssilorLuxottica met on March 11, 2021 to approve the consolidated financial statements for the year ended December 31, 2020. These financial statements were audited by the Statutory Auditors whose certification report is in the process of being issued.“To really understand what EssilorLuxottica is made of, just look at how we fought through the past year, the way we flipped adversity on its head and turned it into fuel for 2021. Our Company and our people showed new levels of adaptability and customer loyalty in the first half of the year. In the second half, we shifted into a new gear – recovery and reinvestment mode – while continuing to give our teams, our partners and customers the resources and support they needed to make a comeback. This is the hallmark of a leader using its best characteristics to raise the bar for all its stakeholders: an inspiring mission, high employee shareholding, close customer relationships, digital acceleration, supply chain flexibility, and brand and product innovation.
Our solid results demonstrate the strength of our business model and the benefits of our integration. The structural needs for good vision and recognized brands combined with innovation, vertical integration and tight cost control lead to solid profitability.
EssilorLuxottica is now in a unique position to lead the eyecare and eyewear industry into its next chapter, using our unparalleled assets and new categories like myopia management and complete pairs to capture long-term potential” said Francesco Milleri and Paul du Saillant, respectively CEO and Deputy CEO of EssilorLuxottica.“I would like to thank the current management for the important results it has achieved in a very difficult year. In the light of these results, I intend to propose to the new Board to confirm Francesco Milleri as CEO and Paul du Saillant as Deputy CEO“, added Leonardo Del Vecchio, Chairman of EssilorLuxottica.EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. The Company brings together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear, to set new industry standards for vision care and the consumer experience around it. Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux® and Transitions®, and world-class retail brands including Sunglass Hut and LensCrafters are part of the EssilorLuxottica family.
In 2020, EssilorLuxottica had over 140,000 employees and consolidated revenues of Euro 14.4 billion.
The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices.
Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP.CONTACTSAttachmentDOWNLOAD PDF VERSION OF THE NEWS RELEASE
