The Group’s growth continued throughout 2016. In a challenging economic environment net sales increased from Euro 8,836.6 million in 2015 to Euro 9,085.7 million in 2016 (+2.8 percent at current exchange rates and +3.9 percent at constant exchange rates1 ).
Adjusted net sales2 increased from Euro 9,010.8 million in 2015 to Euro 9,085.7 million in 2016 (+0.8 percent at current exchange rates and +1.9 percent at constant exchange rates2 ). Adjusted net sales in 2015 were impacted by the modification of an EyeMed reinsurance agreement with an existing underwriter whereby the Company assumed less reinsurance revenues and less claims expense.
The impact of this new contract for the twelve month period ended December 31, 2015 was Euro 174.3 million (the “EyeMed Adjustment”). Earnings before Interest, Taxes, Depreciation and Amortization (“EBITDA”)3 in 2016 increased by 0.3 percent to Euro 1,858.1 million from Euro 1,853.3 in 2015. Additionally, adjusted EBITDA3 increased by 1.3 percent to Euro 1,945.0 million from Euro 1,919.7 million in 2015.
Operating income for 2016 decreased by 2.3 percent to Euro 1,345.3 million from Euro 1,376.4 million during the same period of the previous year. The Group’s operating margin has reduced its growth from 15.6 percent in 2015 to 14.8 percent in 2016.
Additionally, adjusted operating income4 in 2016 decreased by 0.7 percent to 1,432.1 million from Euro 1,442.8 million in 2015. The Group’s adjusted operating margin5 decresed from 16.0 percent in 2015 to 15.8 percent in 2016. In 2016 net income attributable to Luxottica Stockholders increased by 5.8 percent to Euro 850.5 million from Euro 804.1 million in the same period of 2015.
Sigue leyendo la Memoria Anual 2016 aquí
