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FY 2008 Group results & accomplishments Winning through the cycle
FY 2008: overview A year of integration within an increasingly tough macroeconomic environment Consolidated sales at an all-time high of €5.2 billion, up Y-o-Y by 4.7% Up by 10.7% at constant exchange rates Net income at €395 million Not including the write-off of credit related to the sale of the Things Remembered business Dilution of operating margin by 110 bps Wholesale margin at 22.1%, from pro forma (1) operating margin of 23% for 2007 Retail margin at 9.4%, from pro forma (1) operating margin of 11.1% for 2007 Yet another year of solid free cash flow (3) generation €302 million of free cash flow (3) Good control of working capital Continued investment in long-term projects: nearly €300 million of Capex in addition to the one-off charges related to the merger with Oakley Net Debt to EBITDA ratio (2)(3) of 2.9x (2.8x excluding the impact of exchange rate fluctuations) Adjusting our business for the tough macroeconomic environment (1) Pro forma data reflects the inclusion of the consolidated results of Oakley, Inc., a subsidiary that was acquired in November 2007, as if it was acquired on January 1, 2007 (2) In the Net debt/EBITDA ratio, EBITDA is calculated for the 12 months ending on the respective date (3) Free cash flow, EBITDA, Net debt and Net debt/EBITDA are not US GAAP measures. For additional disclosure regarding non-US GAAP measures and a reconciliation to US GAAP measures, see Appendix. Winning through the cycle 5
Page 1 and 2: Winning through the cycle London -
Page 3: Summary Group results for FY 2008 2
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 and 28: Sunglass Hut: a global opportunity
Page 29 and 30: A key pillar: a strong balance shee
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
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703 KB - Luxottica

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