Schiphol, the Netherlands - 26 April 2018. GrandVision N.V. publishes the First Quarter 2018 trading update.
Highlights
- First Quarter revenue grew by 10.9% at constant exchange rates to €913 million driven by organic growth of 3.3% and a 7.6% contribution from acquisitions
- Comparable growth of 1.9% (4.1% in 1Q17) benefited from strong growth of 9.8% in the Americas & Asia segment, 1.0% growth in the G4 and 0.1% in the Other Europe segment despite the high prior year comparables related to the timing of the Easter holidays and poor weather in Europe
- Adjusted EBITDA (i.e. EBITDA before non-recurring items) increased by 1.0% at constant exchange rates to €136 million as strong adj. EBITDA growth in the Americas & Asia segment was partially offset by lower comparable growth in the significant Northern European countries and integration and rebranding costs of recent acquisitions
- GrandVision's first Capital Markets Day will take place on 20 September 2018
