ANNUAL REPORT 2004 - Luxottica Group

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5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 800 700 600 500 400 300 200 100 3,000 2,500 2,000 1,500 1,000 500 NET SALES GROSS PROFIT 2,439 3,105 3,202 2,852 3,255 2,246 2,782 3,026 3,225 4,048 2000 2001 in millions of Euro 2002 2003 in millions of US$ 2004 OPERATING INCOME NET INCOME 412 509 602 432 493 379 456 569 488 613 2000 2001 in millions of Euro RETAIL 2002 2003 in millions of US$ NET SALES AND OPERATING MARGIN IN % 2004 1,468 2,154 2,228 2,028 2,347 12.7% 14.9% 14.3% 13.3% 13.2% 2000 2001 2002 Sales (in Euro) Margin in % 2003 2004 19% 17% 13% 9% 5% 3,500 3,000 2,500 2,000 1,500 1,000 500 500 400 300 200 100 1,600 1,400 1,200 1,000 800 600 400 2000 2001 PROFILE OF LUXOTTICA GROUP 1,720 2,182 2,256 1,949 2,215 1,584 1,954 2,132 2,203 2,754 in millions of Euro 2000 2001 2002 2002 2003 in millions of US$ 2003 2004 255 316 372 267 287 235 283 352 302 357 in millions of Euro WHOLESALE 2000 2001 2002 Sales (in Euro) Margin in % in millions of US$ 2003 2004 GROSS SALES AND OPERATING MARGIN IN % 1,076 1,147 1,129 997 1,095 23.6% 25.1% 25.5% 19.2% 21.3% 2004 7 40% 32% 24% 16% 8%
PROFILE OF LUXOTTICA GROUP QUARTERLY RESULTS 2003 - 2004 (Subject to limited auditing review) 2004 In thousands of Euro (1) First quarter Net sales Gross profit Operating income Income before taxes Net income Earnings per: Ordinary share in Euro ADS in US$ (2) 2003 8 769,118 525,073 120,110 113,759 71,175 0.16 0.20 100.0% 68.3% 15.6% 14.8% In thousands of Euro (1) First quarter Net sales Gross profit Operating income Income before taxes Net income Earnings per: Ordinary share in Euro ADS in US$ (2) 711,494 496,787 111,351 95,853 65,614 0.15 0.16 9.3% 100.0% 69.8% 15.7% 13.5% 9.2% Second quarter 811,711 556,866 139,127 124,849 78,968 0.18 0.21 100.0% 68.6% 17.1% 15.4% 9.7% Second quarter 714,115 482,634 111,893 99,427 67,669 0.15 0.17 100.0% 67.6% 15.7% 13.9% 9.5% Third quarter 726,159 506,840 129,051 119,159 76,975 0.17 0.21 100.0% 69.8% 17.8% 16.4% 10.6% Third quarter 700,896 474,586 109,429 107,295 74,449 0.17 0.19 100.0% 67.7% 15.6% 15.3% 10.6% Fourth quarter 948,312 625,824 104,526 99,386 59,756 0.13 0.17 725,690 494,571 99,114 87,219 59,613 0.13 0.16 100.0% 66.0% 11.0% 10.5% 6.3% Fourth quarter 100.0% 68.2% 13.7% 12.0% 8.2% In accordance to U.S GAAP (1) Except for per share (ADS) data, which is in Euro and US$. (2) All amounts in US$ were translated at the average Euro/US$ exchange rate for the period in reference. See page 91.
Page 1 and 2: ANNUAL REPORT 2004
Page 7: ANNUAL REPORT 2004 PROFILE OF LUXOT
Page 15 and 16: LUXOTTICA GROUP IN 2004 to have dir
Page 17 and 18: LUXOTTICA GROUP IN 2004 Luxottica G
Page 21 and 22: DISTRIBUTION As for the performance
Page 23 and 24: DISTRIBUTION focused on the relatio
Page 25 and 26: DISTRIBUTION capacity, a direct pre
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
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
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In accordance with U.S.GAAP (1) 200
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MANAGEMENT’S DISCUSSION AND ANALY
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expenses, thanks to economies of sc
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This information is being provided
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The swap will expire on June 17, 20
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ANNUAL REPORT 2004
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(1) Except for earnings per share (
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(1) 1 ADS = 1 ordinary share. (2) C
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with the procedure set forth by it,
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CORPORATE GOVERNANCE Set out below
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- Sergio Erede - Sabina Grossi: Mem
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INTERNAL AUDIT COMMITTEE The commit
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3. the Chief Financial Officer, the
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STOCK OPTIONS PLANS At the Extraord
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ANNUAL REPORT 2004 LUXOTTICA GROUP
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(1) Through 1998 the Euro/U.S. Doll
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LUXOTTICA GROUP S.P.A. We have audi
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In accordance with U.S. GAAP (1) Tr
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In accordance with U.S. GAAP In tho
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In accordance with U.S. GAAP (1) Tr
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NOTES TO CONSOLIDATED FINANCIAL STA
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Maintenance and repair expenses are
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customers take receipt of products
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In thousands Weighted average share
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The Company recognizes forfeitures
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2. RELATED PARTY TRANSACTIONS FIXED
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In thousands of Euro Assets purchas
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This pro forma financial informatio
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The Company believes that the preli
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(1) Goodwill acquired in 2003 and 2
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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
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ANNUAL REPORT 2004 - Luxottica Group

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