Universal
Registration
Document
2021
Contents
1 | Presentation | 4 | ||||
of EssilorLuxottica | 7 | |||||
1.1 | EssilorLuxottica Group Profile | 8 | ||||
1.2 | History | 16 | ||||
1.3 | The eyecare and eyewear industry | 19 | ||||
1.4 | Meeting global demand for eyecare | |||||
and eyewear | 20 | |||||
1.5 | Simplified organizational chart | 48 | ||||
1.6 | Risk factors | 49 | ||||
AFR |
1.7 Main characteristics of the risk management and internal control systems implemented
by the Company for the preparation and processing of accounting
and financial information | AFR | 75 | |||||
2 | EssilorLuxottica | 5 | |||||
in 2021 | AFR | 79 | |||||
2.1 | Significant events of the year | 81 | |||||
2.2 | Consolidated revenue | 85 | |||||
2.3 | Statement of profit or loss and | ||||||
Alternative Performance Measures | 91 |
2.4 Statement of financial position, net debt, cash flows and other non-GAAP
measures | 98 | |||||||
2.5 | Acquisitions and partnerships | 101 | ||||||
2.6 | Investments made in 2021 | |||||||
and planned for 2022 | 101 | |||||||
2.7 | Subsequent events | 102 | ||||||
2.8 | Recent trends and outlook | 103 | ||||||
3 | Report on Corporate | |||||||
Governance | 105 | 6 | ||||||
3.1 | Information on Corporate | |||||||
Governance | 108 | |||||||
AFR | ||||||||
3.2 | Special procedures for shareholder | |||||||
participation in Shareholders' | ||||||||
Meetings | 127 | |||||||
AFR | ||||||||
3.3 | Compensation of corporate officers* | 131 |
3.4 Appendix: Summary table of recommendations
of the AFEP-MEDEF Code that have
not been applied | 171 | ||
3.5 | Appendix: List of offices | 7 | |
and responsibilities | 173 | ||
3.6 | Statutory Auditors' report on | ||
related-party agreements | 189 |
Financial | ||||||||
statements | 191 | |||||||
4.1 | Consolidated Financial Statements | 193 | ||||||
AFR | ||||||||
4.2 | Statutory Auditors' report on the | |||||||
consolidated financial statements | 265 | |||||||
AFR | ||||||||
4.3 | Unaudited Pro Forma Consolidated | |||||||
Financial Information | 269 | |||||||
4.4 | Statutory Auditors' report on the | |||||||
pro forma financial information | 275 | |||||||
4.5 | Financial statements | |||||||
of EssilorLuxottica | AFR | 276 | ||||||
4.6 | Other information related to the | |||||||
financial statements of EssilorLuxottica | 297 | |||||||
4.7 | Statutory Auditors' report | |||||||
on the financial statements | AFR | 299 | ||||||
Social, environmental | ||||||||
and societal information | 305 | |||||||
AFR | ||||||||
5.1 | EssilorLuxottica's approach | |||||||
to Sustainable Development | 306 |
5.2 Eyes on the Planet, EssilorLuxottica's sustainability
program | 316 | |
5.3 | Next steps for EssilorLuxottica's | |
sustainability program | 344 | |
5.4 | Methodology note and | |
correspondence tables | 345 |
5.5 Report by one of the Statutory Auditors, appointed as an independent third party, on the consolidated non-financial
information statement | 348 | |||||||||
Information about the Company, | ||||||||||
its share capital and stock ownership | 353 | |||||||||
6.1 | The Company | 355 | ||||||||
6.2 | Share capital | 358 | ||||||||
AFR | ||||||||||
6.3 | Shareholding | 362 | ||||||||
AFR | ||||||||||
6.4 | Employee shareholding | 364 | ||||||||
AFR | ||||||||||
6.5 | Dividend distribution | 370 | ||||||||
6.6 | Key stock market data | 371 | ||||||||
6.7 | Historical data | 373 | ||||||||
Additional information on the | ||||||||||
Universal Registration Document | 385 | |||||||||
7.1 | Person responsible | 387 | ||||||||
AFR | ||||||||||
7.2 | Statutory Auditors | 388 | ||||||||
7.3 | Publicly available documents | 388 | ||||||||
7.4 | Cross-reference tables | 389 |
The Universal Registration Documents, Registration Documents and releases cited as well as this Universal Registration Document are available at: www.essilorluxottica.com @ Investors / Pubblications and Downloads
- Includes the Report on the compensation policy of Executive Corporate Officers subject to the approval of shareholders at the Shareholders' Meeting on May 25, 2022.
The information from the Annual Financial Report (AFR) is clearly identified in the table of contents by the symbol AFR
2021 Universal
Registration
Document
Including
the Annual Financial
Report
This document is a non-certified translation into English of the Universal Registration Document (including the Annual Financial Report) issued in French, prepared in ESEF format (European Single Electronic Format) and filed on March 25, 2022 with the Autorité des Marchés Financiers (AMF), as competent authority under Regulation (EU) 2017/1129, without prior approval pursuant to article 9 of said Regulation.
The Universal Registration Document may be used for the purposes of an offer to the public of securities or the admission of securities to trading on a regulated market if completed by a securities note and, if applicable, a summary and any amendments to the Universal Registration Document. The whole is approved by the AMF in accordance with Regulation (EU) 2017/1129.
2021
Message from the Chairman
Leonardo Del Vecchio
Chairman
Dear Shareholders,
Welcome to a new era in our Company's history. While the past few years have been difficult, the dream of creating EssilorLuxottica gave us all something to work towards to, together. The extraordinary transformation of our Company is an impressive story spanning five years and is unlike anything the industry has ever seen.
In January 2017, we shared our vision to combine a global leader in iconic branded frames with a global leader in ophthalmic lenses. Our combination journey was not an overnight shift. We needed to reshape and simplify the new company in order to meet the growing needs of the industry. We appointed talented managers in key roles, we became more agile and more efficient by centralizing the organization, and, we fast-tracked decisions so as not to miss any opportunities.
From there, we achieved a new milestone, welcoming GrandVision into our family this year. Three leaders who share a commitment to bringing the best eyewear and eyecare to people everywhere now make up one single champion. Today, we are ready to fulfill our promise to grow the industry by creating new categories and entering new markets.
- 2021 Universal Registration Document EssilorLuxottica
From reimagining smart glasses to confronting myopia in innovative ways, we will create value for all our stakeholders and we will do it in a sustainable way.
Whether you have been with us from the very beginning or became a shareholder more recently, you have witnessed what EssilorLuxottica is capable of. Even in the face of a challenging 2021, we performed remarkably well without compromising our investment plans or our strategy.
I would like to thank our Board of Directors and our steadfast leadership, helmed by CEO Francesco Milleri and Deputy CEO Paul du Saillant, who have been instrumental in leading the way. They, along with our senior managers around the world, took great care of our people, while never losing sight of what makes our Company one-of-a-kind. Our customers and partners can be proud to work with these leaders and with all of our passionate employees.
2022 will be another trailblazing year. We have achieved great things and have many wins to celebrate, but there is always another mountain to climb. However, at EssilorLuxottica, we remain bold and purposeful, the only way to be on this journey.
Thank you for your ongoing support.
2021 Universal Registration Document EssilorLuxottica | 3 |
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EssilorLuxottica SA published this content on 20 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 September 2023 16:50:08 UTC.