The board of Luxottica has decided to co-opt Francesco Milleri as director "with the task of assisting and assisting the executive chairman Leonardo Del Vecchio in the exercise of his functions". This was announced by the group from Agordo in the press release on the 2015 accounts, the year closed with "new record profits and sales".
Last year, the group reported net income of 804 million euros, up 25,1% on 2014. Sales totaled 8,8 billion (+15,5%), exceeding the adjusted level 9 billion (+17%). Operating profit up 19% to 1,37 billion. Cash flow generation amounted to 768 million.
The trend allows the distribution of a dividend of 0,89 euro per share, up 24% on the coupon paid last year. The prospects for the current year are good. “We expect – commented Del Vecchio in the note – that 2016 will be a new year of solid growth for Luxottica despite an uncertain macroeconomic context, with an increase in turnover in line if not better than that of the year just ended and a increase in profits greater than sales”.
However, Luxottica shares started the session badly a Business Square, where it fell to 50,55 euros: at 10.22 it still lost more than 4% to 51,50 euros per share. Despite the record data for 2015, the markets are not convinced by the slowdown in the last quarter and the downsizing of the guidance.
