Schiphol, the Netherlands - 27 October 2016. GrandVision N.V. publishes the Nine Months and Third Quarter 2016 trading update.
Highlights
- 9M16 revenue grew by 6.1% at constant exchange rates (3Q16: 4.9%) to €2,495 million (3Q16: €825 million) with reported revenue growth of 3.2% (3Q16: 2.2%)
- Comparable growth in 9M16 was 1.7%; 0.4% in 3Q16 was driven by weakness in the Other Europe segment, particularly in Finland and Italy
- Adjusted EBITDA (i.e. EBITDA before non-recurring items) grew by 4.3% at constant exchange rates (3Q16: 0.2% ) to €411 million in 9M16 with reported adj. EBITDA growth of 2.8% (3Q16: -1.9%)
- The adjusted EBITDA margin remained constant at 16.5% (3Q16: 16.8%)
- GrandVision remains confident in achieving its medium term objectives of delivering annual revenue growth of at least 5% and high single digit adjusted EBITDA growth at constant exchange rates
- Total number of stores grew to 6,454 (6,110 at year-end 2015) as a result of store openings and acquisitions, especially in the Americas & Asia segment
