Net sales of Euro 2.1 billion (+7.0% at constant exchange rates2)

Operating margin of 19.2% and free cash flow3of Euro 321 million: an all-time quarterly record

Luxottica Group net sales

  • accelerated growth in net sales for the second quarter: Euro 2,060 million (+7.0% at constant exchange rates2)
  • net sales for the first half: Euro 3,902 million (+5.6% at constant exchange rates2)
  • still unfavorable exchange rate environment

Wholesale Division

  • net sales for the second quarter: Euro 935 million (+10.3% at constant exchange rates2)
  • strong increase in sales in emerging markets: +20.8% at constant exchange rates2,6
  • accelerating performance in North America compared to the first quarter: +9.9% in USD
  • solid growth in Europe: +6.9% at constant exchange rates2,6
  • Ray-Ban and Oakley continue to be major growth drivers
  • the premium and luxury segment confirm a structural growth trend

Retail Division

  • net sales for the second quarter: Euro 1,125 million (+4.3% at constant exchange rates2)
  • faster comparable store sales4growth in the second quarter: +3.8% in North America; double digit growth in emerging markets
  • LensCrafters in North America delivered an increase in comparable store sales4of +0.9%
  • Sunglass Hut continued to deliver excellent results with global sales on a comparable store basis4of +9.9%

Profitability and free cash flow3

  • net income
    • second quarter: Euro 235 million (+15.0%5at constant exchange rates2)
    • first half: Euro 393 million (+12.8%5at constant exchange rates2)
  • operating margin up by 80 bps5to 19.2%: an all-time quarterly record (+110 bps5at constant exchange rates2)
  • net profit margin of 11.4% up by 60 bps5
  • positive free cash flow3of Euro 321 million, an all-time record on a quarterly basis

Start to the third quarter

  • net sales growth remains robust, with both Divisions confirming strong demand
  • impact from negative exchange rate environment is gradually declining due to a more favorable basis of comparison between the major currencies

The Board of Directors of Luxottica Group S.p.A. (MTA: LUX; NYSE: LUX), a leader in the design, manufacture, distribution and sale of fashion, luxury and sports eyewear, met today and approved the consolidated results for the second quarter and the six months ended June 30, 2014 in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (IAS/IFRS).

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