LensCrafters 2012 Annual Report Download - page 218

ANNUAL REPORT 2012> 132 |
Net sales included in the consolidated financial statements relating to Sun Planet (Spain
and Portugal) starting from the acquisition date are Euro5.5 million. Sun Planet’s impact
on the Group’s 2012 consolidated net income was a net loss of Euro3.5 million. Had Sun
Planet (Spain and Portugal) been consolidated from January 1, 2012 Group’s consolidated
net sales would have increased by Euro12.8 million and net income would have decreased
by Euro0.8 million. Transaction related costs of Euro0.7 million were expensed as incurred.
The consideration paid net of the cash acquired (Euro1.9 million) was Euro21.9 million.
In accordance with IFRS 8 - Operating segments, the Group operates in two industry
segments: (1) Manufacturing and Wholesale Distribution, and (2) Retail Distribution.
The criteria applied to identify the reporting segments are consistent with the way the
Group is managed. In particular, the disclosures are consistent with the information
periodically analyzed by the Group’s CEO, in his role as Chief Operating Decision Maker,
to make decision about resources to be allocated to the segments and assess their
performance.
5. SEGMENT
INFORMATION