Essilorluxottica Sa · EURONEXT:EL
Essilorluxottica Sa — Q4 2021 Earnings Presentation
23 slides from Essilorluxottica Sa's earnings presentation, Mar 11, 2022
Slide 1: Q4 Revenue & FY Results 2021
Q4 Revenue & FY Results 2021 March 11, 2022
Slide 2: Q4 & FY 2021 Highlights
Q4 & FY 2021 Highlights • Reported Group revenue up 20% in FY versus 2019 and 40% versus 2020. • Comparable revenue up 11% in Q4 and 7.4% in FY versus 2019. • Best quarter of the year with all regions exceeding pre-pandemic revenue. • Double-digit growth in North and Latin America versus 2019, sungl
Slide 3: From three specialized players to one integrated Group
From three specialized players to one integrated Group COMBINATION ACQUISITION Q4 Revenue and FY Results 3
Slide 4: Financial Highlights
Financial Highlights Q4 FY EL including GV (pro forma) REVENUE GROWTH VS 2019 +11.0% +7.4% AT CONSTANT EXCHANGE RATES ADJUSTED OPERATING PROFIT 16.1% AS A % OF REVENUE EL excluding GV REVENUE GROWTH VS 2019 +11.8% +8.0% AT CONSTANT EXCHANGE RATES ADJUSTED OPERATING PROFIT 17.0% AS A % OF REVENUE Q4
Slide 5: Results vs Targets
Results vs Targets excluding GrandVision, at constant currency OUTLOOK 2021 ACTUAL 2021 OUTLOOK 2021 mid-to-high REVENUE GROWTH VS 2019 +8.0% single digit ADJUSTED OPERATING PROFIT VS 2019 up-to-100 bps growth +130 bps AS A % OF REVENUE Q4 Revenue and FY Results 5
Slide 6: Long-Term Outlook
Long-Term Outlook including GrandVision, at constant currency 5-YEAR OUTLOOK mid-single REVENUE ANNUAL GROWTH 2022-26 digit ADJUSTED OPERATING PROFIT 2026 19-20% AS A % OF REVENUE Q4 Revenue and FY Results 6
Slide 7: Q4 Revenue and FY Results
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Slide 8: Q4 & FY comparable revenue by segment 2021 vs 2019
Q4 & FY comparable revenue by segment 2021 vs 2019 Change at constant Change at current € million Q4 2021 Q4 2019 exchange rates exchange rates Professional Solutions 2,678 2,625 +6.8% +2.0% Direct To Consumer 2,901 2,600 +15.2% +11.6% EssilorLuxottica 5,579 5,226 +11.0% +6.8% Change at constant Cha
Slide 9: Q4 comparable revenue by region 2021 vs 2019
Q4 comparable revenue by region 2021 vs 2019 Change at constant Change at current € million Q4 2021 Q4 2019 exchange rates exchange rates North America 2,528 2,285 +13.9% +10.6% EMEA 1,987 1,885 +8.2% +5.4% Asia-Pacific 706 691 +1.4% +2.1% Latin America 359 364 +25.1% -1.3% EssilorLuxottica 5,579 5,
Slide 10: FY comparable revenue by region 2021 vs 2019
FY comparable revenue by region 2021 vs 2019 Change at constant Change at current € million FY 2021 FY 2019 exchange rates exchange rates North America 9,868 9,220 +12.7% +7.0% EMEA 7,953 7,828 +3.7% +1.6% Asia-Pacific 2,542 2,616 -1.6% -2.8% Latin America 1,136 1,317 +10.4% -13.8% EssilorLuxottica
Slide 11: North America +13.9% in comparable revenue in Q4
North America +13.9% in comparable revenue in Q4 • Overall sound performance in line with the third quarter. • Sound performance in PS, with frames up double digits. • Key accounts driving, solid independents (with 360 program). • Double-digit growth for Oakley, Ray-Ban and the luxury brands. • Bric
Slide 12: EMEA +8.2% in comparable revenue in Q4
EMEA +8.2% in comparable revenue in Q4 • PS mid-single digit up, driven by Italy, UK, North and East Europe. • Solid growth in optical, led by flagship lens brands. • Oakley and luxury brands driving sun in PS. • Brick & Mortar revenue growth close to double digits. • Positive Sunglass Hut, despite
Slide 13: Asia-Pacific +1.4% in comparable revenue in Q4
Asia-Pacific +1.4% in comparable revenue in Q4 • Turning positive, thanks to the lift of restrictions in Australia. • Mainland China leading growth driver in PS. • Robust performance in myopia management solutions. • Bolon nicely growing, boosted by optical products. • India double digits up, Japan
Slide 14: Latin America +25.1% in comparable revenue in Q4
Latin America +25.1% in comparable revenue in Q4 • Best performing region in the quarter. • Brazil up double digits in both PS and DTC. • Promising first results from EssilorLuxottica 360 launch in Brazil. • Mexico performing nicely in lenses and frames. • GMO comparable-store sales up double digits
Slide 15: Adjusted Statement of Profit or Loss 2021 vs 2019
Adjusted Statement of Profit or Loss 2021 vs 2019 Excluding GrandVision Change at Change at € million FY 2021 FY 2019* constant ER current ER Revenue 17,851 17,390 +8.0% +2.7% Cost of sales (6,985) (6,715) +8.7% +4.0% Gross profit 10,866 10,675 +7.7% +1.8% Margin % 60.9% 61.4% Total operating expens
Slide 16: Pro forma Adjusted Statement of Profit or Loss 2021
Pro forma Adjusted Statement of Profit or Loss 2021 Including GrandVision Eliminations € million EL ex-GV GrandVision* EL Pro Forma & PF adj. Revenue 17,851 3,902 (256) 21,498 Cost of sales (6,985) (1,085) 201 (7,869) Gross profit 10,866 2,817 (55) 13,628 Margin % 60.9% 72.2% 63.4% Total operating e
Slide 17: Cash Flow, Net Debt and Dividend
Cash Flow, Net Debt and Dividend • Group’s Free Cash Flow generation at €2.8 billion in the full year*. • Capex slightly over €1 billion in the full year*. • Cash and Cash Equivalents of €3.3 billion at December 31. • Net Debt at €9.7 billion, including lease liabilities. • Dividend proposed at €2.5
Slide 18: Storecount at Dec 31, 2021: over 13k corporate stores, almost 18k stores in total
Storecount at Dec 31, 2021: over 13k corporate stores, almost 18k stores in total North Asia- Latin Corporate Franchising Total EMEA Am erica Pacific Am erica Stores & Other Storecount Sunglass Hut 1,690 620 307 389 3,006 188 3,194 LensCrafters 1,003 78 1,081 4 1,085 Apollo Optik 676 676 218 894 Vis
Slide 19: Q4 Revenue and FY Results
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Slide 20: Continuous support to our Mission
Continuous support to our Mission • Help people around the world “see more and be more”. • Working on harmonizing and consolidating all philanthropic and advocacy activities to maximize social impact. • Access to vision care for 50 million people in 2021, and for 475 million people since 2013, also
Slide 21: Sustainability at the core of our identity
Sustainability at the core of our identity Eyes on the Planet – Keys initiatives launched over the last quarters: Our Pillars Our Commitments Eyes on Carbon Achieve carbon neutrality across direct operations by 2025, in Europe by 2023. France and Italy already achieved. Eyes on Circularity Shift fro
Slide 22: CSR highlights of 2021
CSR highlights of 2021 • Carbon Neutrality in direct operations in France and Italy. • Pioneering sustainable bio-based acetate together with Mazzucchelli*. • Launching Leonardo: open-learning platform for the industry available in 15 languages. • Successful Employee Shareholding initiative: 65% sub
Slide 23: See more. Be more.
EssilorLuxottica See more. Be more. LEONARDO science for a new vision Trending now @ Divo into our eslection of contont tha Transitions lenses) solutions (Sign up Events Catalog