(1) Except for earnings per share (expressed in Euro). In thousands of Euro (1) Net sales Cost of sales Gross profit Operating expenses Selling expenses Royalties Advertising expenses General and administrative expenses Goodwill amortization Toal operating expenses Operating income Other non-operating income/(expenses) Financial income/(charges) Other income/(charges), net Other non-operating income/(expenses), net Income before taxes Income taxes Income before minority interests Minority interests Net income Net earnings per share (1) Net earnings per share, diluted (1) No. of outstanding shares Total No. of shares RECONCILIATION OF THE ITALIAN AND U.S. GAAP CONSOLIDATED FINANCIAL STATEMENTS STATEMENT OF CONSOLIDATED INCOME AS OF DECEMBER 31, <strong>2004</strong> U.S. GAAP <strong>2004</strong> 3,255,300 1,040,697 2,214,603 1,133,114 51,002 192,430 300,095 45,148 1,721,789 492,814 (49,453) 13,792 (35,661) 457,153 (161,665) 295,488 (8,614) 286,874 0.64 0.64 448,275,028 450,360,942 Amortization of goodwill 53,359 53,359 (53,359) (53,359) (1,275) (54,634) (54,634) Other adjustments (7,204) 1,173 (8,376) (7,235) 43 146 (6,779) (13,825) 5,449 (224) 3,195 2,971 8,420 4,830 13,250 415 13,665 Italian GAAP <strong>2004</strong> 3,248,096 1,041,870 2,206,227 1,125,879 51,045 192,576 293,316 98,507 1,761,323 444,904 (49,677) 16,987 (32,690) 412,214 (158,110) 254,104 (8,199) 245,905 0.55 0.55 448,275,028 450,360,942 73
<strong>ANNUAL</strong> <strong>REPORT</strong> <strong>2004</strong>
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ANNUAL REPORT 2004
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ANNUAL REPORT 2004
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ANNUAL REPORT 2004
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ANNUAL REPORT 2004 PROFILE OF LUXOT
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PROFILE OF LUXOTTICA GROUP QUARTERL
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ANNUAL REPORT 2004
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ANNUAL REPORT 2004
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LUXOTTICA GROUP IN 2004 to have dir
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LUXOTTICA GROUP IN 2004 Luxottica G
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ANNUAL REPORT 2004
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DISTRIBUTION As for the performance
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- Page 25 and 26: DISTRIBUTION capacity, a direct pre
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- Page 29 and 30: CHANGE YOUR VIEW
- Page 31 and 32: www.vogue-eyewear.com
- Page 34 and 35: Making its debut in 1926, Persol wa
- Page 36 and 37: Launched in California in 1992, Arn
- Page 38 and 39: The Sferoflex brand was acquired by
- Page 40 and 41: DISTRIBUTION LICENSE BRANDS 39
- Page 42 and 43: The Byblos brand has been licensed
- Page 44 and 45: The Miu Miu brand was created in 19
- Page 46 and 47: Sergio Tacchini, ever synonymous wi
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- Page 50 and 51: DISTRIBUTION Today, Luxottica Group
- Page 52 and 53: VERTICAL INTEGRATION Over the decad
- Page 54 and 55: Over the years, Luxottica Group has
- Page 56 and 57: WHOLESALE BRAND PORTFOLIO Luxottica
- Page 58 and 59: Give the Gift of Sight is a Luxotti
- Page 60 and 61: ANNUAL REPORT 2004
- Page 62 and 63: In accordance with U.S.GAAP (1) 200
- Page 64 and 65: MANAGEMENT’S DISCUSSION AND ANALY
- Page 66 and 67: expenses, thanks to economies of sc
- Page 68 and 69: This information is being provided
- Page 70 and 71: The swap will expire on June 17, 20
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- Page 76 and 77: (1) 1 ADS = 1 ordinary share. (2) C
- Page 78 and 79: with the procedure set forth by it,
- Page 80 and 81: CORPORATE GOVERNANCE Set out below
- Page 82 and 83: - Sergio Erede - Sabina Grossi: Mem
- Page 84 and 85: INTERNAL AUDIT COMMITTEE The commit
- Page 86 and 87: 3. the Chief Financial Officer, the
- Page 88 and 89: STOCK OPTIONS PLANS At the Extraord
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- Page 92 and 93: (1) Through 1998 the Euro/U.S. Doll
- Page 94 and 95: LUXOTTICA GROUP S.P.A. We have audi
- Page 96 and 97: In accordance with U.S. GAAP (1) Tr
- Page 98 and 99: In accordance with U.S. GAAP In tho
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- Page 102 and 103: NOTES TO CONSOLIDATED FINANCIAL STA
- Page 104 and 105: Maintenance and repair expenses are
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- Page 108 and 109: In thousands Weighted average share
- Page 110 and 111: The Company recognizes forfeitures
- Page 112 and 113: 2. RELATED PARTY TRANSACTIONS FIXED
- Page 114 and 115: In thousands of Euro Assets purchas
- Page 116 and 117: This pro forma financial informatio
- Page 118 and 119: The Company believes that the preli
- Page 120 and 121: (1) Goodwill acquired in 2003 and 2
- Page 122 and 123: Estimated annual amortization expen
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Since fiscal year 2004, for income
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8. LONG-TERM DEBT Long-term debt co
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Excluding current maturities, long-
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OBLIGATIONS AND FUNDED STATUS In th
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The accumulated benefit obligations
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CONTRIBUTIONS U.S. Holdings expects
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The following table sets forth the
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STOCK INCENTIVE PLANS Luxottica Gro
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Years ended December 31 (1) Inter-s
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In thousands of Euro Years ending D
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such higher consideration to all te
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eviewed at the end of January 2004,
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ANNUAL REPORT 2004 KEY CONTACTS AND
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EUROPE LUXOTTICA S.r.l. KILLERLOOP
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MIDDLE EAST AND FAR EAST LUXOTTICA