LensCrafters 2013 Annual Report Download - page 7

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2
Euro 1,461.4 million (Euro 1,662.4 million at the end of 2012), with a ratio of net debt to adjusted EBITDA
8
of 1.0x (1.2x as
of December 31, 2012).
2. SIGNIFICANT EVENTS DURING THE 2013
January
On January 23, 2013, the Company closed the acquisition of Alain Mikli International S.A. (“Alian Mikli”), a
French luxury and contemporary eyewear company. Net sales generated by Alain Mikli in 2012 were approximately
Euro 55.5 million. The purchase price paid in the first quarter of 2013, including the assumption of approximately
Euro 15 million of Alain Mikli’s debt, totaled Euro 91 million, excluding advance payments made in 2012 and receivables
from Alain Mikli. Please refer to note 4 “Business Combinations” of the Notes to the Consolidated Financial Statements for
additional information on the acquisition.
March
On March 25, 2013, the Company entered into an agreement with Salmoiraghi & Viganò S.p.A. pursuant to which
Luxottica subscribed to shares as part of a capital injection, corresponding to a 36.33% equity stake in the Italian optical
retailer. The transaction is valued at Euro 45 million and was announced on November 27, 2012. As a result of this
transaction, the Group became a financial partner of Salmoiraghi & Viganò S.p.A.
In March 2013, Standard & Poor’s confirmed the Group’s long-term credit rating of BBB+ and revised its outlook
on the Group from stable to positive.
April
On April 25, 2013, we acquired the sun business of Grupo Devlyn S.A.P.I. de C.V. through one of our
wholly-owned subsidiaries. See “Note 4—Business Combinations” of the Notes to the Consolidated Financial Statements for
additional information on this transaction.
At the Stockholders’ Meeting on April 29, 2013, Group’s stockholders approved the Statutory Financial Statements
as of December 31, 2012, as proposed by the Board of Directors and the distribution of a cash dividend of Euro 0.58 per
ordinary share. The aggregate dividend amount of Euro 274.0 million was fully paid in May 2013.
8
For a further discussion of net debt and net debt to adjusted EBITDA, see page 29—“Non-IFRS Measures.”