2020
Universal
Registration
Document
Contents
1 | Presentation | 5 |
of EssilorLuxottica |
1.1 A global leader in the eyecare
and eyewear industry | 7 | |
1.2 | Company History | 12 |
1.3 | The eyecare and eyewear industry | 16 |
1.4 | Mission | 18 |
1.5 | Activities | 19 |
1.6 | Simplified organizational chart | 37 |
1.7 | The Company in 2020 | 38 |
1.8 | Risk factors AFR | 47 |
1.9 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 | 72 | |
2 | Report on Corporate | |
Governance | 77 | |
2.1 Information on Corporate Governance AFR | 79 |
2.2 Special procedures for shareholder
participation in Shareholders' Meetings AFR | 101 |
2.3 Compensation of corporate officers | 105 |
2.4 Appendix: Summary table of recommendations of the AFEP-MEDEF Code that have
not been applied | 143 |
2.5 Appendix: List of offices and responsibilities | 146 |
2.6 Statutory Auditors' report on related-party
agreements | 162 |
3 | statementsFinancial | 165 |
3.1 Comments on the Group's earnings
and financial position AFR | 167 | |
3.2 | Trend information AFR | 175 |
3.3 | Consolidated Financial Statements AFR | 177 |
3.4 Statutory Auditors' report on the consolidated
financial statements AFR | 240 |
3.5 Fees paid to the Statutory Auditors
and the members of their network AFR | 244 |
3.6 Financial statements of EssilorLuxottica AFR | 245 |
3.7 Other information related to the financial
statement of EssilorLuxottica | 264 |
3.8 Statutory Auditors' report on the financial
statements AFR | 266 |
4 | Social, environmental and societal | ||
information AFR | 271 | ||
4.1 | EssilorLuxottica Mission | 272 | |
4.2 | EssilorLuxottica's approach | ||
to Sustainable Development | 276 | ||
4.3 | Management of Sustainable Development | 280 |
4.4 Fundamental sustainability pillars to support
EssilorLuxottica's Mission | 283 |
4.5 Next steps for EssilorLuxottica's sustainability
program | 302 |
4.6 Methodology note and correspondence table | 303 |
4.7 Report by one of the Statutory Auditor, appointed as an independent third party, on the
consolidated non-financial statement included | |
in the management report | 307 |
5 | Information about the Company, its | |||
share capital and stock ownership | 311 | |||
5.1 | The Company | 313 | ||
5.2 | Share capital | AFR | 316 | |
5.3 | Shareholding | AFR | 320 | |
5.4 | Employee shareholding AFR | 323 | ||
5.5 | Dividend distribution policy | 329 | ||
5.6 | Key stock market data | 330 | ||
5.7 | Historical data | 332 |
6 | Additional information | |
on the Universal Registration | 343 | |
Document |
6.1 | Persons responsible AFR | 345 |
6.2 | Statutory Auditors | 346 |
6.3 | Publicly available documents | 346 |
6.4 | Cross-reference tables | 347 |
The Registration Documents and releases cited as well as this Universal Registration Document are available at:
- Investors / Pubblications and Downloads www.essilorluxottica.com
* Includes the Report on the compensation policy of Executive Corporate Officers subject to the approval of shareholders at the Shareholders' Meeting on May 21, 2021.
The information from the Annual Financial Report is clearly identified in the table of contents by the symbol AFR
Document d'enregistrement universel 2020
Incluant le Rapport financier annuel
2020
Universal
Registration
Document
Including
the Annual
Financial Report
This document is a non-certified translation into English of the Universal Registration Document issued in French and filed on March 26, 2021 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.
Message from the Chairman and Vice-Chairman
Dear Shareholders,
When we wrote to you last March, the world looked very different for all of us. What makes our 2020 report so meaningful is that
it highlights EssilorLuxottica's leadership in an environment that none of us had ever seen before. Fresh off the heels of our combination, we led the industry through a pandemic and did so while staying true to our strategic vision and protecting our people.
Today, we celebrate our success as a combined business, but also as a champion for all global business. It was our distinct dream to create a company deeply rooted in excellence and without geographic boundaries.
We are proud to say that we completed a critical stage of our combination during the interim period of the past three years. While it was not without challenges, we
LEONARDO DEL VECCHIOsuccessfully laid the foundation for a new company, bringing us all closer together with a common vision. As we enter into the next stage of integration, our management team will use its strength, experience and determination to bring this vision into reality.
This past year, EssilorLuxottica created value for all stakeholders through its open business model. We achieved our goal to combine lenses and frames, leveraging
a powerful supply chain and delivering a complete pair to consumers who want the best of vision and style. We reached great milestones while remaining consistent with our mission to help people "see more, be more and live life to its fullest". Perhaps our proudest achievement has been expanding our Employee Share Ownership in Essilor and Luxottica to reach more than 60,000 employees around the world.
For helping to guide us steadily through these unchartered waters, we offer our most sincere gratitude to the outgoing Board
of Directors. Our incoming Board, which includes candidates who stand out for their vast experience, extensive business acumen and established reputations, is ready to continue to serve the Company's mission while leading EssilorLuxottica into an exciting new phase. In order to ensure continuity and steadfast leadership in EssilorLuxottica's amazing journey, we intend to propose to the new Board to confirm Francesco Milleri and Paul du Saillant as CEO and Deputy CEO respectively.
Looking ahead, we have strong ambitions for 2021 and beyond. We are precisely in the right position to lead the reinvention of an entire industry in the age of wearables, artificial intelligence, rapidly changing consumer and patient behaviors, sustainability and other forces of science and nature. Our wonderfully entrepreneurial and people-driven company has all that we need to propel eyewear and eyecare into an exciting new universe.
Celebrating 60 years of business for Luxottica and over a century and a half for Essilor, we will continue to be the company that our people, partners, investors and consumers are proud to work with. With our incredible managers at the helm, the next chapter of EssilorLuxottica's story will be led with great passion and purpose.
HUBERT SAGNIÈRES
2 2020 Universal Registration Document EssilorLuxottica
Message from the Chief Executive Officer and Deputy Chief Executive Officer
Dear Shareholders,
We are extremely proud to be delivering this report to you, outlining EssilorLuxottica's achievements in 2020. During a difficult year for all our
stakeholders, our newly combined Company lived up to its promise as an industry leader by taking care of our 140,000 employees around the world, supporting our customers through hardship and meeting the changing needs of consumers, all while continuing to invest in the future of vision care.
In 2020, we focused on leveraging the assets of both Essilor and Luxottica while preserving cash to not only allow the Company and the industry to push through the pandemic, but to blaze a trail for decades to come. By combining the most advanced lens technology with the most iconic frames and by weaving together a robust supply chain with strong roots in every region, we are just beginning to show the world what EssilorLuxottica can do.
Product innovation and digital transformation remained at the heart of our strategy and of our Mission of helping people "see more, be more and live life to its fullest". We launched new technologies like the Stellest lens, designed to lead the fight against myopia, and announced a partnership with Facebook that will define the next generation of smart glasses. EssilorLuxottica's brands further strengthened their position in the market. Loyalty to our brands is higher than ever and partnerships with cultural icons, star athletes and millennial influencers reinforced this. The relationships we are building with consumers are the kind that will last a lifetime. As part of our digital acceleration, we also continued to enhance the consumer journey online, in-store and in the exam lane with telehealth options.
FRANCESCO MILLERI
PAUL DU SAILLANT
2020 Universal Registration Document EssilorLuxottica | 3 |
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EssilorLuxottica SA published this content on 03 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2021 16:09:03 UTC.