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66 ANNUAL REVIEW 2012
Net sales in 2012 exceeded Euro 7 billion, the highest net sales results recorded in
Luxottica’s history: Euro 7,086 million (+13.9% at current exchange rates; +7.5% at constant
exchange rates3) as compared with the previous record in 2011 of Euro 6,222 billion).
See p. 77 for footnote disclosure and information regarding Luxottica’s non-IAS/IFRS reconciliations.
NET SALES
› WHOLESALE
› RETAIL
0
2,000
4,000
6,000
8,000
2011 2012
4,313
2,773
7,086
3,766
2,456
6,222
(Eur m)
ADJUSTED EBITDA
AND OPERATING INCOME
› ADJUSTED EBITDA2 › MARGIN
› ADJUSTED OPERATING INCOME2 › MARGIN
0
500
1,500
1,000
1,362
1,136
821
1,004
0
2
4
6
8
10
12
14
16
18
20
2011 2012
19.2%
18.3%
14.2%
13.2%
(Eur m)
(%)
The current year’s operating performance once again confirmed the success of Luxottica’s
commitment to increase profitability. More specifically, adjusted EBITDA2 for 2012 grew
significantly (+19.9% compared to 2011) totaling Euro 1,362 million. In 2012, Group’s
adjusted EBITDA2 margin increased from 18.3% recorded in 2011 to 19.2%.
(millions of Euro) FY 2012 FY 2011 Change
Net sales 7,086 6,222 +13.9% +7.5% at constant
exchange rates3
Operating income 982 807 +21.7%
Operating income (adjusted)21,004 821 +22.3%
Net income, Group 542 452 +19.8%
Net income, Group (adjusted)2567 456 +24.4%
Earnings per share (Euro) 1.17 0.98 +18.7%
Adjusted (Euro)21.22 0.99 +23.3%
Adjusted (USD)21.57 1.38 +13.8%