Luxottica closed 2014 with a Net income of 642,6 million euro, up 18% on the year, and an adjusted net result of 687,4 million, up 11,4%. Consolidated turnover reached 7,65 billion (+4,6% at current exchange rates and +6,1% at constant exchange rates). Proposed payment of a dividend "equal to 100% of adjusted net profit", or 1,44 euro per share, compared to 0,65 euro in 2013. Cash generation - underlines a note - is record, at a total of 802 million euro .
The dividend - specifies the company - consists of an ordinary part equal to 0,72 per share and an extraordinary one equal to 0,72 and the total dividends total approximately 687 million euros. The adjusted operating result in 2014 reached the record level of 1,17 billion, up 10,6% on 2013. As a percentage of turnover, the operating margin was 15,3% (14,6% in 2013).
In fourth quarter, the net profit attributable to the group jumped to 87,6 million euro from 25 million in the same period of 2013. At the adjusted level, the net profit was 121,6 million (+31%). Turnover in the last quarter of the year showed an increase of 13,4% at current exchange rates (+7,9% at constant currencies) to 1,86 billion, divided among the 704 million of the wholesale division (+9,3 %) and 1,16 billion of the retail division (+16,1%).
The profit adjustment, explains Luxottica, “also refers to the non-recurring cost incurred following the audit initiated by the Guardia di Finanza for the years 2008, 2009, 2010 and 2011 which ended with a report of findings based on the same remark formulated with reference to 2007 on the subject of transfer pricing".
