EssilorLuxottica publishes financial statements for 2020
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. […] 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 reported revenue of Euro 14,429 million, down 17.0% at current exchange rates and down 14.6% at constant exchange rates, compared to 2019. These declines were the result of COVID-19 related lockdowns across markets in the first part of the year. The Company’s reported and adjusted gross profit came in at 58.7% and 58.9% of sales respectively while reported and adjusted operating profit were 3.1% and 9.5% of sales respectively. Reported and adjusted net profit attributable to the owners of the parent were Euro 85 million and Euro 788 million respectively (reported result also reflects Euro 528 million of negative non-cash PPA impact related to the combination of Essilor and Luxottica).
