703 KB - Luxottica

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A key pillar: a strong balance sheet Working capital optimization 10% - 15% inventory reduction Resized workforce across operations Adopted temporary, government-subsidized leave in Italy (Cassa Integrazione Guadagni) New organization in place for centralized inventory management, excluding Oakley Moving strategic suppliers to consignment stock Improving factories’ through-put days (15% improvement from 2008) > Decreasing WIP offers even more flexibility Receivables: flat, in days Great achievements over the past four years (-30 days vs. 2004) Strict control on a weekly basis across all geographic regions Flexible approach to key clients Over 30 days overdue account for approx. 5% of the days outstanding Payables: +5 days Already renegotiated terms with 80% of suppliers Winning through the cycle 28
A key pillar: a strong balance sheet Capex Spending less than €200 million in 2009 Down more than 30% vs. 2008 (€300 million) Continued significant investments in IT (€50 million) to create greater efficiencies within the New Group Creating a unified supply chain for the Group > Reducing DC’s by 12 by 2011 Building up shared service centers across the organization Reviewing global store blueprint Closings: 117 in NA, additional 110 under review and negotiation Opening very selective locations: 60 in NA; 20 Oakley; 20 in Asia-Pacific Rapidly adapting the business model to capture new opportunities Winning through the cycle 29
Page 1 and 2: Winning through the cycle London -
Page 3 and 4: Summary Group results for FY 2008 2
Page 5 and 6: FY 2008: overview A year of integra
Page 7 and 8: FY 2008: consolidated results FY08
Page 9 and 10: FY 2008: plenty of accomplishments
Page 11 and 12: FY 2008: accomplishments of the New
Page 13 and 14: A structural reset of the market is
Page 15 and 16: Managing and winning through the cy
Page 17 and 18: A key pillar: sustained growth Bran
Page 19 and 20: Forever Ray-Ban: continuing the rei
Page 21 and 22: Oakley: the platform for growth 200
Page 23 and 24: Oakley: Jawbone US Retail: US$195 -
Page 25 and 26: Optical Retail in North America New
Page 27: Sunglass Hut: a global opportunity
Page 31 and 32: A key pillar: a flexible cost struc
Page 33 and 34: A key pillar: a flexible cost struc
Page 35 and 36: Icon Sports Division SPORT FASHION
Page 37 and 38: REVO relaunch: the vision REVO bec
Page 39 and 40: REVO relaunch: year one Target dist
Page 41 and 42: REVO 2009 product line Acetate (1 S
Page 43 and 44: Conclusions Winning through the cyc
Page 45 and 46: A walk through sensitivity for 2009
Page 47 and 48: Drawing some conclusions No change
Page 49 and 50: Fare clic per modificare gli stili
Page 51 and 52: Non-US GAAP Measures: EPS before Tr
Page 53 and 54: Non-US GAAP Measures: EBITDA and EB
Page 55 and 56: Non-US GAAP Measures: EBITDA and EB
Page 57 and 58: Non-US GAAP Measures: Net debt and
Page 59: Investor Relations team Alessandra

703 KB - Luxottica

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