Essilux, the CEO Milleri opens to the Mediobanca ops on Banca Generali. « The operation does not hinder MPS plans »

« Essilux is a young company, created only seven years ago with the merger between Luxottica and Essilor, who is not limited to looking to the future but to build it through the eyes of each of us ». To the assembly of the multinational of which he is president and CEO Francesco Milleri He wanted to speak above all about the new position on the market built by Essilorluxottica. We produced frames and lenses with Essilor and Luxottica. « We bet on a digital company: the Wearable Computing sector has become the company’s core business, it is a completely new perspective ».

Neither winners nor won in the bank ops

Milleri is also president of the Delfin safe involved in many of the current banking match. « We would like that in these operations there were neither winners nor won, » he said speaking of the Mediobanca Opes on Banca Generali. As Delfin we are involved in both Mediobanca and Generali, with a similar investment, « Milleri journalists who awaits the details of the Mediobanca Opes. « As an industrial vision, the operation is easier to understand. » The synthesis of Milleri is that the OPS of the CEO Alberto Nagel can help the one launched by the mountain on the same square Cuccia. Mediobanca’s participation in Generali was almost a disturbing element, which goes in the direction of the MPS industrial project. If they explain that this operation is for both Mediobanca and Generali, we will express ourselves in favor. On the part of Generali there have been no indications on the OPS. We have always supported valid projects. Generali managers are professionals who have managed the business for years. Philippe Kenit has shown to do things cotarently ». What will vote at the Mediobanca Assembly on June 16, called to express himself? « I don’t know yet, we will vote plans that create value for everyone. »

«Aberto (Nagel, ed) some things for Mediobanca I think he has already done them. The shape of the bank is changing ‘, said Milleri. He added: «Perhaps it was a little pushed, but this task belongs to financial shareholders who want to improve the performance of companies. He is trying to change the role of Mediobanca, there is to be appreciated.

Theoretical capital gain on Unicredit

On the Unicredit front, of which Delfin has 2.7%, Milleri observes that « at a certain point we could think of reordering the participations especially when we have now obtained very important capital gain. Even if in a dolphin life management system, we are always wallet managers ». The approach is that of the good family patre, says the manager who underlines that the Holdg has collected dozens of billions of capital gains. « We are the only country we have with this will to change the opportunity to create champions, this was Leonardo Del Vecchio’s thought. We did it in industry and now it also takes place in banks ».

! 20 billion the capitalization of the group

To the French shareholders of Essilux, among these also the state through BPI and Caisse des Depots (about 4% total), he explained that « if the reference market, that of glasses and frames, was worth 100 billion, now the pitch is much larger. It was not possible to stay in this small activity sector. Today on the stock exchange we have reached up to 120 billion because we work in the Med Tech, in surgery, in home automation and now we will also enter the robotics « . The gaze goes towards the founder Leonardo Del Vecchio, » we followed his idea that frames and lenses can evolve with functions that we could not imagine « . Soon – he added – there will be no need for the mobile phone.

Half billion customers

« We serve half a billions of consumers every year, thanks to the constant ability of innovation, » said deputy CEO Paul du Saillant at the audience that saw a turnout of 88.5%. 2024 was a key year with new products in the care of vision and in the Med Tech, in wearable technology and in the AI, with 2 million Ray Ban Meta sold from 2023. Then the launch of audio nuance, for two months also sold in Italy. These products are now worth more than half of the group’s growth.

Evolution

It was the CFO Stefano Grassi who pulled the sums of the route made. From 2018, the year of the merger with Essilor, the capitalization is almost doubled to 114.6 billion, the turnover rose by 52.4% to 26.5 billion in 2024, net profit recorded +61.1%. The first dividendo distributed in 2018 was 2.04 euros for 2024 is 3.95 (+ 94%). Employees increased by 45% (200 thousand in the world, 20 thousand in Italy, those shareholders are almost 100 thousand. Essilux is now the third group on the Paris Stock Exchange, behind Lvmh and Kering.

The duties? beaten with innovation

Essilux responds to the duties « continuing to invest in the Med Tech – said Milleri – as for the chain of supplies, the company has long focused on other geographical areas. Instead, we evaluate price adjustments in the USA ». Is it possible that the group moves productions to the USA? To the question in the assembly, the group replied that the group still gives itself three or four months to understand the situation and decide.

Acquisitions: « We look at the chips sector, the Medical and the AI »

And on the acquisitions Milleri signals that he has many dossiers on the table, between small and large companies. «We look at the chips, medical and AI sector. We would like to enhance surgical skills, looking at clinics and hospitals to implement the ability not only to correct, but also to treat the eye ». The remuneration of Milleri, equal to 5.8 million, between a fixed part and variable component also approved with 90.66%