Friday , March 31 2023

110 million coupons for Del Vecchio


Almost double coupon for Leonardo Del Vecchio. The businessman, who according to Forbes magazine claims with Giovanni Ferrero for the title of the richest man in Italy, has collected a dividend of 110 million compared to 60 million last year from Delfin. The holding company, which controls 32.74% of EssilorLuxottica's family safe, recorded a net result of EUR 331 million last year, down 10% from 369 million in 2017.

However, the dividend proposal in favor of Leonardo Del Vecchio "as a beneficiary" was increased to EUR 110 million from the EUR 60 million paid in 2017.

According to documents consulted by Radiocor, Delfin's total assets increase in 2018 to 9.6 billion euros from 9.4 billion in 2017, and 9.44 billion in financial assets (from 9, EUR 33 billion). Income from "affiliates", i.e. dividends collected by subsidiaries decreased to 427 million from 562 million in 2017, but at the same time revenue from "other investments" increased to 148.3 million from 49.8 million.

The write-offs of financial assets amounted to 183 million, slightly less than 189 million in 2017. At the meeting held on 21 June last year, as in previous years, it was proposed to distribute all legal profits to 'distributable reserves' and to draw the dividend in favor of the founder of Luxottica from the so-called "Sand account for profit" (preferred share certificates), which amounts to 4.5 billion and is reported under liabilities. The total amount of reserves is 3.34 billion euros from 2.97 billion at the end of 2017. Thanks to the dividend, Del Vecchio could break Ferrero's record for the richest man in Italy.

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