GrandVision reports strong comparable revenue growth in 3Q21 of 5.8% versus 3Q20
Schiphol, the Netherlands – 28 October 2021. GrandVision N.V. publishes its Third Quarter and Nine Months 2021 results.
Due to the exceptional nature of the year 2020, GrandVision (the "Company") is also including comparisons versus 2019 in this press release.
Third quarter and nine months 2021 highlights
- GrandVision’s 3Q21 comparable revenue grew by 5.8% compared to 3Q20 and 10.0% versus 3Q19 at 2019 exchange rates excluding the disposed businesses. This represents a strong performance with the Company reaching growth above pre-pandemic levels
- Strong adjusted EBITA in 3Q21 at €167 million (3Q20: €176m and 3Q19: €132m). Comparable adjusted EBITA, excl. extraordinary COVID-19 related effects and the disposed businesses, was 6% versus a strong 3Q20 and 33% above 3Q19
- France, our biggest market, has continued to show sensitivity to COVID-19 related government actions. Measures implemented during the third quarter slowed down the strong recovery seen in the second quarter
- In 9M21, comparable revenue increased 21.7% versus 9M20. Adjusted EBITA was €384 million in 9M21 (9M20: €153m and 9M19: €369m)
- GrandVision's net debt position as of 30 September 2021 was €363 million (9M20: €602m)
- The Company’s rating on the Dutch Transparency benchmark improved by 7 points. This study is held amongst the largest companies in the Netherlands and focuses on transparency in CSR reporting topics
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