EssilorLuxottica

2020 Annual Shareholders’ Meeting: Shareholders adopt all Board resolutions

EssilorLuxottica 2020 Annual Shareholders’ Meeting:
Shareholders adopt all Board resolutions

Charenton-le-Pont, France (June 25, 2020 – 11:30 am) – EssilorLuxottica’s Annual Shareholders’ Meeting was held today behind closed doors at the Company’s headquarters in Paris, chaired by Juliette Favre, Director of EssilorLuxottica and President of Valoptec, the association of EssilorLuxottica employee-shareholders.

EssilorLuxottica shareholders were invited to submit their votes prior to the meeting. EssilorLuxottica shareholders approved all the 14 resolutions submitted by the Board of Directors. All presentations, along with answers to the questions sent by shareholders and results of votes are available at EssilorLuxottica.com, on a dedicated webpage – https://www.essilorluxottica.com/2020agm.

Dividend to be discussed by end of year based on the Group’s recovery assessment
As announced in April in order to take the necessary measures to respond to the COVID-19 pandemic and to prepare the Company for recovery, the Board of Directors of EssilorLuxottica has decided not to submit a dividend distribution. In the second half of the year, it will further assess the state of the business and the efficacy of all the measures undertaken to face the pandemic. If the recovery is solid enough, a special dividend payment could be proposed before the end of 2020.

As highlighted in today’s presentations, the Company enjoyed strong momentum and cash flow through its activities in 2019. This provided a solid basis to accelerate on the plan presented at the Capital Markets Day 2019 and deliver the expected synergies. The Company also successfully enhanced its product innovation including e-chromic eyewear and most recently the Ray-Ban complete pair offer with Essilor lenses. It also further digitalized its business and progressed in several integration workstreams.

In the first half of this year, EssilorLuxottica responded to the COVID-19 pandemic by protecting its people and communities, alongside its business. This included heightened health and safety measures across factories, stores and offices, and the launch of a Euro 100 million fund and emergency pay plan to help the most vulnerable employees and their families. To support customers throughout this crisis, EssilorLuxottica developed training and designed a set of recommendations on how to reorganize in-store spaces for increased safety, as well as guidance on the safe use of instruments for eye exams and measurement. The Company also donated more than two million units of personal protective equipment including safety goggles, protective eyewear and face masks to hospitals, public institutions, employees and partners in the various countries in which it operates. These include China, Italy, France, Germany, Spain, Portugal, the United States, Brazil, Colombia, Israel, Australia, India, Bangladesh, and many more.