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This excerpt taken from the LUX 6-K filed Sep 29, 2009. Cost of Sales. Cost of sales increased by Euro 42.8 million, or 9.7
percent, to Euro 481.6 million for the three-month period ended June 30,
2009 from Euro 438.8 million for the same period in 2008, primarily
attributable to our overall sales increase. As a percentage of net sales, cost of sales increased to 34.4
percent for the three-month period ended June 30, 2009, as compared to
32.4 percent for the same period in 2008, mainly due to the impact of fixed
costs on declining volumes. In the three-month
period ended June 30, 2009, the average number of frames produced daily in
our facilities decreased to approximately 208,000, as compared to 228,400 for
the same period in 2008, which was attributable to decreased production in both
the Italian and Chinese manufacturing facilities because of the overall
decrease in demand.
32 This excerpt taken from the LUX 20-F filed Jun 25, 2009. Cost
of Sales. Cost of sales increased by Euro 87.9 million,
or 5.9 percent, to Euro 1,575.6 million in 2007, from Euro 1,487.7 million in
2006, primarily attributable to our overall sales growth and the inclusion of Oakley’s cost of sales for the period from
the acquisition date of Euro 37.6 million. As a percentage of net sales, cost of sales decreased to 31.7
percent in 2007, as compared to 31.8 percent in 2006. In 2007, excluding the frames manufactured at our acquired Oakley
facilities, the average number of frames produced daily in our facilities
increased to approximately 175,800, as compared to 154,900 in 2006, which was
attributable to increased production in both the Italian and Chinese
manufacturing facilities.
45 This excerpt taken from the LUX 20-F filed Jun 26, 2008. Cost
of Sales. Cost of sales increased by 8.3 percent to Euro
1,487.7 million in 2006, from Euro 1,373.1 million in 2005, primarily
attributable to our overall sales growth. As a percentage of net sales, cost of
sales decreased to 31.8 percent from 33.2 percent. This decrease as a percentage of net sales
was primarily attributable to the
change in sales mix resulting from increased sales of our Ray-Ban brand
and sales of branded products of our designer lines, Prada, Bvlgari and Dolce &
Gabbana, which carry a higher gross margin than other lines, increased
efficiency in our manufacturing facilities leveraging the fixed cost structure
to produce more frames, and
increased production to
cover the additional demand for our products. In 2006, the average number of frames
produced daily in Luxottica’s facilities was approximately 154,900 as compared
to 115,000 for the same period of 2005, attributable to increased production in
the Tristar facility, as well as improved productivity in our Italian
factories.
This excerpt taken from the LUX 20-F filed Jun 29, 2007. Cost of Sales. Cost
of sales increased by 29.3 percent to Euro 1,316.7 million in 2005 from Euro
1,018.6 million in 2004. Cost of sales in the retail segment increased by Euro
273.5 million, which increase is primarily attributable to the inclusion of
Cole in our results of operations for three months in 2004 compared to a full
12 months in 2005. Cost of sales in the manufacturing and wholesale segment
increased by Euro 68.6 million due to the increase in net sales. As a
percentage of net sales, cost of sales decreased to 31.8 percent from 32.0
percent. This was mostly attributable to the placement of more Luxottica
manufactured products in our newly acquired Cole retail locations.
Manufacturing labor costs increased by 17.3 percent to Euro 301.3 million in
2005 from Euro 256.9 million in 2004. This increase is attributable to the
increase in net sales. As a percentage of net sales, cost of labor decreased to
7.3 percent in 2005 from 8.1 percent in 2004, due to higher productivity in the
wholesale division, as well as due to the inclusion of Cole results, since Cole’s
cost of labor as a percentage of sales is lower than that of the rest of the
Group. For 2005, the average number of frames produced daily in our facilities
(including Tristar, our Chinese factory) was approximately 125,000, which was
in line with 2004 production.
This excerpt taken from the LUX 6-K filed Oct 3, 2006. Cost of Sales. Cost
of sales increased by 7.6 percent to Euro 392.2 million in the second quarter
of 2006, from Euro 364.4 million in the same period of 2005, and decreased as a
percentage of net sales to 30.3 percent from 31.8 percent. For the second
quarter of 2006, the average number of frames produced daily in Luxottica’s
facilities was approximately 154,000 as compared to 114,000 for the same period
of 2005, due to increased production capacity in the Tristar facility, as well
as improved productivity in our Italian factories.
This excerpt taken from the LUX 20-F filed Jun 28, 2006. Cost of Sales. Cost
of sales increased by 15.2 percent to Euro 1,040.7 million in 2004 from Euro
903.6 million in 2003. Cost of sales in the retail segment increased by Euro
103.4 million, which increase is primarily attributable to the inclusion of
Cole in our results of operations from the date of acquisition and to the
inclusion of OPSM in our results of operations for an additional seven months
in 2004. Cost of sales in the manufacturing and wholesale segment increased by
Euro 32.5 million due to the increase in net sales. As a percentage of net
sales, cost of sales increased to 32.0 percent from 31.7 percent. Manufacturing
labor costs increased by 6.6 percent to Euro 256.9 million in 2004 from Euro
240.9 million in 2003. This increase is attributable to the increase in net
sales. As a percentage of net sales, cost of labor decreased to 7.9 percent in
the year 2004 from 8.4 percent in 2003, due to the inclusion of Cole results,
since Cole’s cost of labor as a percentage of sales is lower than the rest of
the Group. For 2004, the average number of frames produced daily in our
facilities (including Tristar, our Chinese factory) was approximately 123,000,
which was in line with 2003 production.
This excerpt taken from the LUX 6-K filed Apr 3, 2006. Cost
of Sales. Cost of sales increased by 11.8 percent to Euro
360.4 million in the fourth quarter of 2005, from Euro 322.5 million in the
same period of 2004, and decreased as a percentage of net sales to 32.2 percent
from 34.0 percent. Cost of sales in the retail segment increased by Euro 25.5
million due to the increase in sales. Cost of sales in the manufacturing and
wholesale segment increased by Euro 25.6 million due to the increase in net
sales. Manufacturing labor costs increased by 7.8 percent to Euro 76.2 million
in the fourth quarter of 2005 from Euro 70.6 million in the same period of
2004. As a percentage of net sales, cost of labor decreased to 6.8 percent for
the fourth quarter of 2005 from 7.4 percent for the same period of 2004. For the fourth quarter of 2005, the average
number of frames produced daily in Luxottica’s facilities was approximately
120,000 as compared to 115,000 for the same period of 2004.
This excerpt taken from the LUX 20-F filed Jun 29, 2005. Cost of Sales. Cost of
sales decreased 4.5 percent to Euro 903.6 million in 2003, from Euro 946.1
million in 2002, and increased as a percentage of net sales to
31.7 percent from 29.6 percent, respectively. Manufacturing labor
costs decreased 7.8 percent to Euro 240.9 million in 2003 from Euro
261.2 million in 2002. As a percentage of net sales, cost of labor
increased to 8.4 percent in 2003 from 8.2 percent in 2002. The
increase in cost of sales, including manufacturing labor costs, as a percentage
of net sales, was mainly attributable to the currency translation of our unit
sales, denominated in U.S. dollars, to Euro, such that the weakening of the
U.S. dollar against the Euro increased our average cost of sales with respect
to our unit sales denominated in U.S. dollars. For 2003, the average number of
frames produced daily in Luxottica’s facilities (including Tristar and that of
the newly acquired IC Optics) was approximately 123,000 as compared to 131,000
for 2002.
This excerpt taken from the LUX 6-K filed Apr 1, 2005. Cost
of Sales. Cost of sales increased by 40.0 percent to Euro
315.7 million in the fourth quarter of 2004, from Euro 225.5 million in the
same period of 2003, and increased as a percentage of net sales to 33.5 percent
from 31.4 percent. Cost of sales in the retail segment increased by Euro 73.5
million, primarily due to the inclusion of Cole’s cost of sales in our results
of operations from the date of acquisition on October 4, 2004, partially
offset by the weakening of the U.S. dollar against the Euro. Cost of sales in
the manufacturing and wholesale segment increased by Euro 17.1 million due to
the increase in net sales. Manufacturing labor costs increased by 18.9 percent
to Euro 70.6 million in the fourth quarter of 2004 from Euro 59.4 million in
the same period of 2003. As a percentage of net sales, cost of labor decreased
to 7.5 percent for the fourth quarter of 2004 from 8.3 percent for the same
period of 2003. For the fourth quarter
of 2004, the average number of frames produced daily in Luxottica’s facilities
(including Tristar, our Chinese factory) was approximately 115,000 as compared
to 131,000 for the same period of 2003.
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