April 27, 2017 4:50 AM ET

Textiles, Apparel and Luxury Goods

Company Overview of Luxottica Group S.p.A.

Company Overview

Luxottica Group S.p.A., together with its subsidiaries, provides fashion, luxury, sports, and performance eyewear worldwide. It operates through two segments, Manufacturing and Wholesale Distribution, and Retail Distribution. The Manufacturing and Wholesale Distribution segment engages in the design, manufacture, wholesale distribution, and marketing of proprietary and designer lines of prescription frames and sunglasses, as well as performance optics products. This segment offers its products under proprietary brands, such as Ray-Ban, Oakley, Vogue Eyewear, Persol, Oliver Peoples, Alain Mikli, and Arnette; and licensed brands, including Giorgio Armani, Emporio Armani, Armani Exchange, Brook...

Piazzale L. Cadorna, 3

Milan, MI 20123

Italy

Founded in 1961

82,282 Employees

Phone:

39 02 863 341

Fax:

39 02 8633 4636

Key Executives for Luxottica Group S.p.A.

Chief Executive Officer of Product & Operations and Director
Age: 43
Total Annual Compensation: €2.5M
Compensation as of Fiscal Year 2015.

Luxottica Group S.p.A. Key Developments

Luxottica Group SpA Reports Audited Consolidated Earnings Results for the Full Year Ended December 31, 2016

Luxottica Group SpA reported audited consolidated earnings results for the full year ended December 31, 2016. For the year, net sales were €9,085,707,000 against €8,836,578,000 last year. Income from operations was €1,345,267,000 against €1,376,445,000 last year. Income before provision for income taxes was €1,318,693,000 against €1,277,914,000 last year. Net income attributable to the company’s stockholders was €850,524,000 or €1.77 per basic and diluted share against €804,119,000 or €1.67 per diluted share last year. Net cash provided by operating activities was €1,311,269,000 against €1,197,291,000 a year ago. Additions of property, plant and equipment were €546,214,000 against €319,817,000 a year ago. Additions to intangible assets were €111,827,000 against €143,987,000 a year ago. Net debt as at December 31, 2016 was €1,177.0 million against €1,005.6 million as at December 31, 2015. EBITDA was €1,858.1 million against €1,853.3 million last year. Adjusted EBITDA was €1,945.0 million against €1,919.7 million last year. Adjusted operating income was €1,432 million against €1,443 million last year. Adjusted net income attributable to the company's stockholders increased by 3.3% to €881.7 million in 2016 from €854.0 million in 2015. Adjusted earnings per share were €1.84 against €1.78 a year ago.

Luxottica Group to Expand North American Distribution Facility in Henry County

Luxottica Group announced that it will create 1,000 jobs with the expansion of its North American distribution facility in Henry County by the end of 2017. The expansion will use the company's new lens service model in which both frames and lenses are assembled and distributed from a single location. The new jobs will include positions in administration, production and distribution.

Luxottica Group S.P.A. Recommends Distribution of Ordinary Cash Dividend, Payable on May 24, 2017

The Board of Directors of Luxottica Group S.p.A. announced that it will submit a motion to the General Meeting of Stockholders recommending the distribution of an ordinary cash dividend in the amount of EUR 0.92 per share, equal to 50% of the adjusted, net income of the group. The total dividend amount will be approximately EUR 439 million. The Board of Directors will convene the Ordinary General Meeting of Stockholders on April 28, 2017 to approve the 2016 Statutory Financial Statements and the distribution of the cash dividend. The cash dividend will be payable on May 24, 2017 (the coupon detachment date will be May 22, 2017 pursuant to the Borsa Italiana calendar with a record date of May 23, 2017).

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