EssilorLuxottica SA (EL.FR) said Friday that its 2018 net profit declined when adjusting for the merger of its two constituent businesses, and set goals for the year ahead.
The company declared a dividend of EUR2.04 per share, to be approved at its annual meeting on May 16.
For 2019, EssilorLuxottica says it expects its sales to grow by between 3.5% to 5% at constant exchange rates, and that it sees its net profit, adjusted for the expenses from the Essilor-Luxottica combination and other unusual transactions, growing at 1-1.5 times the pace of sales growth.
EssilorLuxottica said that it expects the synergies from the merger of Essilor and Luxottica to range from EUR420 million-EUR600 million as a net yearly impact on its operating profit within the next five years. It also said it sees revenue synergies in the EUR200 million to EUR300 million range.
The eyewear company said it was considering governance issues, but gave no update on its plans regarding its leadership.