Essilux, first meeting without Del Vecchio. Milleri: “3 billion in value for employees in five years”

PARIS – The first meeting of EssilorLuxottica without Leonardo Del Vecchiowith Francesco Milleri to the presidency, is the excuse to take stock of the first five years of the merger between the French lenses of Essilor and the Italian frames of Luxottica. “First of all, I would like to pay homage to Leonardo Del Vecchio, the craftsman behind the construction of this group – said Milleri during the assembly, of which he is chairman and CEO together with Paul du Saillant – Leonardo was not only the chairman of EssilorLuxottica , was a brilliant entrepreneur, a man and an exceptional leader who knew how to have a vision that marked the eyewear sector as a great industrial reality”.

The market capitalization of the group it rose by 74% to 80 billion (they were 46 billion at the end of 2018), net profit increased by 61% to 2.9 billion (1.8 in 2018) the dividends they grew by 55% a 1.4 billion (0.9 billion in 2018), and the workforce has also risen to 190,000 people (from 140,000 in 2018), of which 40% – or 72,000 people – are also shareholders.

“We have almost doubled the size of the company, revenues have grown by 51% in less than five years and margins are expanding – recalls Milleri – In five years we have also returned to our employees three billion of the value created, which are added to the normal remuneration. Leonardo has always said that beyond growth, this had to be a fair company and who cares about his employees, we go forward in the wake of his principles of his vision and his legacy “. Yesterday the group announced up to 4,100 euros in bonuses, after the exceptional results of 2022.