LensCrafters 2011 Annual Report Download - page 62

62 ANNUAL REVIEW 2011
As a consequence of the positive growth enjoyed throughout all quarters of the year, total
net sales for 2011 exceeded Euro 6.2 billion, an unprecedented result for Luxottica, as
compared to the previous record of Euro 5.8 billion in 2010 (+7.3% at current exchange
rates and 9.9% at constant exchange rates3).
See p. 73 for footnote disclosure.
NET SALES
› WHOLESALE
› RETAIL
0 2,000 4,000 6,000 8,000
3,562
2,236
3,766
2,456
2010 2011
5,798 6,222
(Eur m)
ADJUSTED EBITDA
AND OPERATING INCOME
› ADJUSTED EBITDA2 › MARGIN
› ADJUSTED OPERATING INCOME2 › MARGIN
0200 600 800 1,200
400 1,000
1,034
1,136
821
733
0
2
4
6
8
10
12
14
16
18
20
2010 2011
17.8%
18.3%
12.6% 13.2%
(Eur m)
(%)
The year’s operating performance once again confirmed the success of Luxottica’s strat-
egy of increasing profitability. More specifically, adjusted EBITDA2 for the full year grew
significantly (+9.8% compared to 2010) totaling Euro 1,135.9 million. The adjusted EBITDA
margin2 increased from the 17.8% recorded for 2010 to 18.3% in 2011.
(millions of Euro) FY 2011 FY 2010 Change
Net sales 6,222.5 5,798.0 +7.3% +9.9% at constant
exchange rates3
Operating income 807.1 712.2 +13.3%
Operating income (adjusted)2820.9 732.6 +12.0%
Net income, Group 452.3 402.2 +12.5%
Net income, Group (adjusted)2455.6 402.7 +13.1%
Earnings per share (Euro) 0.98 0.88 +12.0%
Adjusted (Euro)20.99 0.88 +12.7%
Adjusted (US$)21.38 1.16 +18.4%