Slides
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Resolution 1Approval of the 2024 Company financial statementsResolution 2Approval of the 2024 consolidated financial statementsResolution 3Allocation of earnings and setting of the dividendResolution 4Agreements falling within the scope of Articles L.225-38 and subsequent of the French Commercial CodeResolution 5Approval of the information relating to the compensation of Executive Corporate Officers referred to in ArticleL.22-10-9-I of the French Commercial CodeResolution 6Approval of the fixed, variable and exceptional componentscomprising the total compensation and benefits in kind paidin or awarded in respect of the year ended December 31,2024 to Francesco Milleri, Chairman and Chief Executive Officer Resolution 7Approval of the fixed, variable and exceptional componentscomprising the total compensation and benefits in kind paid in or awarded in respect of the year ended December 31, 2024 to Paul du Saillant, Deputy Chief Executive OfficerResolution 8Approval of the compensation policy applicable tothe members of the Board of DirectorsResolution 9Approval of the compensation policy applicable to the Chairman and Chief Executive OfficerResolution 10Approval of the compensation policy applicable to the Deputy Chief Executive OfficerResolution 11Renewal of the term of office of ForvisMazars as Statutory Auditor
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Resolution 12Appointment of Ernst & Young Audit as Statutory AuditorResolution 13Appointment of Ernst & Young Audit as Statutory Auditorfor the Certification of Sustainability ReportingResolution 14Authorization to be granted to the Board of Directorsto proceed with the purchase of the Company’s own ordinary sharesResolution 15*Authorization to be granted to the Board of Directorsto reduce the share capital by cancelling Companytreasury sharesResolution 16*Modification of Article 22 of the bylaws to deletethe reference to the Deputy Statutory AuditorsResolution 17Power to carry out formalities*For the extraordinary meeting
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A YEAR OF TRANSFORMATIVE INITIATIVES •New innovative vision care products•Medical and clinical expertise through internal R&D and strategic acquisitions Vision Care& Med-Tech•Ray-Ban | Meta: 2 mn units sold•Nuance Audio Glasses launchedin US, Italy and France Wearables & AI•Strengthening our brands portfolio-Acquisition of Supreme-Renewal of successful licensing agreements and collaborations Brands •Reinforcing manufacturing footprint with Thailand and Mexico campuses•New Excellence Laboratory in France Supply Chain•Eyes on the Planet: 2030 targets validated by SBTi•OneSight EssilorLuxottica Foundation: global collaborating partner of WHO Corporate SocialResponsibility•Strengthening global employee community around mission and shared values•97,000 employee shareholdersin 85 countries People
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•Net sales at €26.5 billion,up 6.0% vs 2023 at constant FX +6.0% 2024 FINANCIAL HIGHLIGHTS
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• •17.0% adjusted operating marginat constant FX, up 50bps vs 2023 17.0% 2024 FINANCIAL HIGHLIGHTS
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• • •Adjusted group net profit up 9.8% vs 2023 at constant FX +9.8% 2024 FINANCIAL HIGHLIGHTS
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• • • 2.4 •Free Cash Flow at €2.4 billion 2024 FINANCIAL HIGHLIGHTS
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• • • • •Dividend proposed at €3.95 per share,with scrip dividend option €3.95 2024 FINANCIAL HIGHLIGHTS
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Total Net Sales € million North AmericaEMEAAsia-PacificLatin America FY 2023 Δ% at Current FXFY 2024 11,6379,1843,0361,53725,395 11,9799,7593,2471,52326,508 +3.1%+7.9%+9.3%+9.7%+6.0% +2.9%+6.3%+7.0%-0.9%+4.4% Δ% at Constant FX 2024 REVENUE BY REGION
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Total Net Sales € million Professional Solutions FY 2023 Δ% at Current FXFY 2024 12,199 25,395 12,547 26,508 +4.7% +6.0% +2.9% +4.4% Δ% at Constant FX Direct to Consumer13,19513,960+7.1%+5.8% 2024 REVENUE BY SEGMENT
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€ millionREVENUE2023 Δ% at Current FX% on sales25,3952024% on salesΔ% at Constant FX26,508+6.0%+4.4%Cost of Sales -9,305-9,673+5.1%+4.0%GROSS PROFIT (Adj.)16,09016,835+6.5%+4.6%63.4%63.5%Total Operating Expenses-11,912-12,421+5.4%+4.3%OPERATING PROFIT (Adj.)4,1784,414+9.4%+5.7%16.5%16.7%Financials-144-157+10.5%+8.6%PROFIT BEFORE TAXES (Adj.)4,0334,257+9.4%+5.6%15.9%16.1%Income Taxes-938-990+9.4%+5.6%NET PROFIT BEFORE MINORITIES (Adj).3,0953,267+9.3%+5.6%12.2%12.3%Minorities-149-145-0.3%-2.7%GROUP NET PROFIT (Adj.)2,9463,122+9.8%+6.0%11.6%11.8% 2024 PROFIT & LOSS
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2018 2024+94% DIVIDEND PER SHARE PROPOSAL
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Total Net Sales € million North AmericaEMEAAsia-PacificLatin America Q1 2024 Δ% at Current FXQ1 2025 2,8752,3217683716,335 3,0792,5488523696,848 +4.2%+9.9%+10.4%+9.2%+7.3% +7.1%+9.8%+11.0%-0.5%+8.1% Δ% at Constant FX Q1 2025 REVENUE BY REGION
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RECOGNITION THAT REFLECTS THE SUCCESS OF OUR JOURNEY Dow JonesBest-in-ClassEurope index MSCI ESG RATINGS S&P Global 2025 Sustainability Yearbook ‘Leaders in Diversity’ ranking Financial Times Carbon Disclosure Project (CDP)‘Change the World’ list Fortune
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Eyes on CarbonLEADING THE WAY FOR A LOW-CARBON FUTURE2024 Achievements 2030 emissionsreduction targets SBTi validated58%Energy mix powered by renewable energy sources+65%On-site renewable energy vs 2023
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Engaging ourconsumersFrom care & repairto collect and recycle 43%New collections with responsible materials 63%Waste valorizedthroughrecyclingand repurposing 150-tonReduction in single-use plastic packaging vs 2023 2024 AchievementsEyes on CircularityREDEFINING THE LIFECYCLE OF OUR PRODUCTS
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Eyes on Ethics SETTING THE STANDARD FORAN ETHICAL BUSINESS APPROACHEyes on Inclusion CREATING A CULTUREOF BELONGING Program ResponsibleSourcingGlobal roll-outSpeakUpand Anti-corruption BusinessConductand EHS policy DE&IPolicyListening campaign YourVoiceEducation hours 3.4 mnLeonardo
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2024 AchievementsEyes on World Sight EMPOWERING PEOPLE TO UNLEASH THEIR FULL POTENTIAL: IMPACT OF THE ONESIGHT ESSILORLUXOTTICA FOUNDATION 86.8 mnWearers equipped14.9 mnin 202429 people every single minute 33,400+Optical points in rural communities5,665 in 2024 139 countriesWith social impact initiatives143 planned by the end of 2025
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GLOBAL COLLABORATING PARTNER
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PhysicsChemistryEngineeringPhysiologyPsychology FOCUS SHIFT IN OUR SCIENTIFIC ENGAGEMENT Pharmacology Neuroscience Sustainable Technologies Artificial Intelligence Wearables
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A SCIENCE-BASED INNOVATION STRATEGY BUILDING UP NEW CATEGORIES Vision & NeuroscienceStellest•Solid clinical data•High efficacy•Breakthrough innovation WearablesRay-Ban | Meta•Meet use cases•Gateway into new worlds•Expandable platform AudiologyNuance Audio•Unmet patient needs•Beam-forming technology•FDA-cleared and EU-certified Digital Twin•Proprietary model•Anticipating behavior•Outstanding consumer feedback Artificial Intelligence
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Vision & NeuroscienceMyopia treatmentLight modulationWearablesSport performanceMedical applications AudiologySevere conditions Self-adjustment Tinnitus and dyslexiaArtificialIntelligenceAI-driven assistanceMulti-biomarker diagnostics
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Internal Expertise Academicand scientificpartnershipsAcquisitionsHeidelberg EngineeringEspansione GroupPulse AuditionCellview Imaging Stanford UniversityColumbia UniversityUniversity of GeorgiaPolytechnique MontrealMcGill UniversityCNRSVision InstituteHearing InstituteQuinze-Vingts HospitalHôpital Fondation RothschildCambridge UniversityUniversity of EdinburghUniversity College DublinUniversity of the Bundeswehr MunichUniversity of WürzburgMedical University of ViennaPolitecnico di MilanoTokyo Institute of ScienceHong Kong UniversityWenzhou Medical University Research & Foresight, FranceCI&T SingaporeSmart Eyewear Lab, ItalyInstruments R&D hub, FranceShamir R&D center, IsraelTransitions CI&T, Ireland THE SCIENTIFIC CAPABILITIES SUPPORTING OUR MED-TECH JOURNEY
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Global scale,local agility WE LEAD WITHOUR POWERFULINTEGRATEDPLATFORM UNMATCHEDPORTFOLIO OMNICHANNEL PLAYMULTIPOLAR SUPPLY EXPONENTIALINNOVATION CAPABILITIES
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thatsuperpowerlives WE LEADWITH THE FUTUREIN SIGHTInventingsolutions EMBRACING TECH & AI TO OFFER A SEAMLESS LIFE EMBRACING TECH & AITO ADDRESS UNTAPPED NEEDS EMBRACING TECH & SCIENCETOWARDS THERAPEUTICAL SOLUTIONS ENVISIONINGEYES AS A WINDOW TO HEALTH
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& theirfashion influenceNURTURINGOUR CORE BRANDS
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OPENING NEW VALUE CREATIONAVENUESFor the entireIndustry& beyond
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1.25 Bnpeopleworldwidewithmild& moderatehearingloss A growthopportunityfor bothoptical& audio channels THENEWGLASSESWITHINVISIBLEHEARINGSOLUTIONS
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WE LEVERAGEOUR PLATFORMglobal innovationsroll outTo speed & scale
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TRANSITIONS GEN S•Global roll out•Acrosslensbrands and frames collaborations•Acrosschannels•High penetrationin Smart EyewearPlano+ RX MYOPIA CONTROL•Stellestglobal roll out•DOT launch in China•Kids frames •Acrosschannels, especiallyhospitals& eyeclinics•Therapy& preventionstrategy
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WE INVESTTO STRENGHENservice to key partnersOur advantageand
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Most advancedtechnologiesMade inFranceFastdeliveryCompletepairs LABORATOIRED’EXCELLENCEIN FRANCE
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WE ADVANCESTOREDIGITALIZATIONfor personalizedTowardsmed-tech hubsconsumer experience
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WE LEAD WITH GREATRESPONSABILITY To deliverup tothe levelof ourpromisingcapabilitiesTo help the opticalindustryembracethe opportunityof new tech possibilitiesTo empowerpeople by offeringsolutions to improvetheirqualityof life.
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10%Fixed Compensation AnnualVariable15% linked to performanceconditions 90%(only quantitative objectives) Long Term Incentive (IFRS)75%
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40% -Adjusted EPS127.5%51.0%30% -Revenue growth116.7%35.0%30% -Adjusted Operating profit107.5%32.3%118.3% % achievementrateWeighted %achievement
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Fixed compensation€ 2,100,000Annual Variable to be paidTotal € 5,826,450€ 3,346,313 Francesco MilleriResolution 6 Chairman and CEOPaul du SaillantResolution 7 Deputy CEO Performance Shares granted € 1,350,000€ 3,726,450€ 1,996,313 100,00045,000
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Fixed compensation€ 2,100,000Target Annual Variable*Performance Shares100,00045,000 Francesco MilleriResolution 9 Chairman and CEOPaul du SaillantResolution 10 Deputy CEO € 1,350,000150%125% * Maximum Bonus cappedat twicetargetbonus 90%subjectto performance conditions
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Group Adjusted Earnings Per share 40%30%RevenueGrowth AdjustedOperating Profit30%
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Group Adjusted Earnings Per share 50% 20%CorporateSocial Responsibility Share PriceGrowth30%
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97,000 employee shareholders
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PURPOSE OF OUR ENGAGEMENTObtain reasonable assurance •That the financial statements are free of material misstatement;•Comply with the applicable accounting standards; and•Give a true and fair view of the assets and liabilities andof the financial position of the Group at December 31,2024, and of the results of the Group’s / Company’soperations for the year ended. •Consolidated financial statements: IFRS as adopted by the European Union;•Individual Company financial statements: French GAAP. ACCOUNTING POLICIES APPLIED Unqualified opinionREPORTS ON THE CONSOLIDATED AND INDIVIDUAL FINANCIAL STATEMENTS * Pages 299-303 and 326-329 of the 2024 Universal Registration Document
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•Valuation of equity investment. Key audit matters •Valuation of goodwill and intangible assets;•Valuation of litigation reserves and contingent liabilities. CONSOLIDATED FINANCIAL STATEMENTSINDIVIDUAL COMPANY FINANCIAL STATEMENTS Matters requiring particular attention during our audit and which we consider to be the most significant: A detailed description of the risks identified, and our responses thereto can be found in our reports. REPORTS ON THE CONSOLIDATED AND INDIVIDUAL FINANCIAL STATEMENTS * Pages 299-303 and 326-329 of the 2024 Universal Registration Document
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Specific verificationsREPORTS ON THE CONSOLIDATED AND INDIVIDUAL FINANCIAL STATEMENTS * Pages 299-303 and 326-329 of the 2024 Universal Registration Document Management ReportFair presentation and consistency with the financial statementsWe have no matters to report InformationNature and extent of our verificationsConclusion Information about payment terms referred to in article D.441-4 of the French Commercial CodeFair presentation and consistency with the financial statementsWe have no matters to report Information required by articles L.225-37-4, L.22-10-10 and L.22-10-9 of the French Commercial CodeInformation included in the report on corporate governanceWe have no matters to report Information relating to compensation and benefits paid or awarded to corporate officers and any other commitments made in their favorConsistency with the financial statements or with the underlying information used to prepare these financial statementsWe have verified its accuracy and fair presentation Information on those items your Companyhas deemed liable to have an impact in the event of a takeover bid or exchange offerConsistency with the underlying documentsWe have no matters to report Format of presentation of the statutory and consolidated financial statementCompliance of the tagging of the consolidated financialstatements with the format defined in the EuropeanDelegated Regulation no 2019/815 of 17 December 2018We have no matters to report
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Information verified by PricewaterhouseCoopers Auditbased on the engagement regarding the limited assurance on the certification of sustainability information and verification of disclosures requirements set out in Article 8 of Regulation (EU) 2020/85. REPORT ON THE CERTIFICATION OF SUSTAINABILITY INFORMATION (SECTION 6) * Pages 478-483 of the 2024 Universal Registration Document Compliance with ESRS of the double materiality processEmphasis of matter regarding the exclusionof the end-of-year acquisitions from thescope of double materiality analysis No important error, omission or inconsistency identified. ObjectiveEmphasis of matter Conclusion Compliance of sustainability information with ESRS Emphasis of matter regarding the inherentuncertainties of the first year of ESRSImplementation, reliance on significantestimates, the limitations related to theacquisitions occurred at the end of thefiscal year, the reasons for some indicators,notably those provided for by the E2pollution thematic standard, to not be or to be partially published Compliance with the publicationrequirements of the taxonomy frameworkNo emphasis of matter Elements that received particular attention•Stakeholder identification; •Identifying impacts, risks, and opportunities;•Assessing impact and financial materiality. •Greenhouse gas emissions assessment;•Climate change mitigation transition plan;•Waste generated. Absence of any element that has beenthe subject of particular attentionNo important error, omission or inconsistency identified. No important error, omission or inconsistency identified.
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NEW AGREEMENTS TO BE APPROVED BY THE SHAREHOLDERS’ MEETING •No new agreement. SPECIAL REPORT ON RELATED-PARTY AGREEMENTS AGREEMENTS WHICH HAVE BEEN ALREADY APPROVED IN PRIOR YEARS AND WHICH HAVE BEEN PURSUED DURING THE LAST YEAR•Service contract with Covivio S.A. for assistancein managing EssilorLuxottica'sreal estate assets. This contract has been authorized by your Boardof Directors on May 15, 2023. * Pages 220-221 of the 2024 Universal Registration Document
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CERTIFICATE ON THE INFORMATION RELATING TO THE TOTAL AMOUNT OF REMUNERATION PAID TO THE HIGHEST-PAID EMPLOYEES FOR THE YEAR ENDED DECEMBER 31, 2024•We have nothing to report on the concordance of the total amount of remuneration paid to the highest-paid employees. OTHER REPORTS AND STATEMENTS SPECIAL REPORT ON THE RESOLUTION SUBMITTED FOR APPROVAL AT THE EXTRAORDINARY SHAREHOLDERS' MEETING Report on the reduction in share capital (resolution 15)•We have no matters to report on the reasons for and conditions of the planned share capital reduction.
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Vote on Resolutions