Annual Review 2012 - Luxottica

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ANNUAL REPORT 2012
(thousands of Euro) Note December 31, 2012 December 31, 2011
Long-term debt:
- Proceeds 21 512,700 250,610
- Repayments 21 (935,173) (230,447)
Short-term debt:
- Increase in short-term lines of credit 14,270
- (Decrease) in short-term lines of credit (102,018)
Exercise of stock options 25 88,267 18,210
(Purchase)/Sale of treasury shares (10,473)
Dividends 35 (232,134) (206,617)
Cash used in financing activities (668,358) (164,447)
Increase/(Decrease) in cash and cash equivalents (106,190) 196,571
Cash and cash equivalents, beginning of the period 905,100 679,852
Effect of exchange rate changes on cash and cash equivalents (8,817) 28,677
Cash and cash equivalents, end of the period 790,093 905,100
(*) Other non-cash items in 2012 included non-recurring expenses incurred for the reorganization of the Australian business for Euro 14.2 million.
Other non-cash items in 2011 included an extraordinary gain resulting on business acquisitions for Euro (19.0) million and other non-cash items for Euro (0.7) million.
(**) Purchases of businesses - net of cash acquired in 2012 include the purchase of Tecnol - Tecnica Nacional de Oculos Ltda for Euro 66.4 million, the purchase of a retail chain in Spain and Portugal
for Euro 21.9 million and other minor acquisitions for Euro 11.4 million.
Purchases of businesses - net of cash acquired in 2011 include the purchase of the remaining 60 percent of Multiopticas Internacional S.L. for Euro 89.8 million, the purchase of two retail chains in
Mexico for Euro 19 million, and other minor acquisitions for Euro 14.8 million.
Milan, February 28, 2013
Luxottica Group S.p.A.
On behalf of the Board of Directors
Andrea Guerra
Chief Executive Officer