Silmäasema Oyj
Inside Information
18 September 2019 9:20 a.m. EET

Silmäasema raises its estimates for like-for-like net sales and adjusted EBITDA margin for 2019.

The improvement in outlook regarding like-for-like net sales is driven by the Optical trade’s actual sales development and estimated development of the sales in the latter part of the year. In addition, measures initiated to improve sales in Eye clinics are expected to support the positive development of like-for-like net sales through the rest of the year.

The relative profitability of the Group's business operations is expected to improve from the previous year. The measures in the efficiency program initiated earlier this year, as well as the measures to improve the efficiency and productivity of the network are creating results faster than anticipated.

Updated outlook for 2019:

Silmäasema expects its full-year like-for-like net sales to increase slightly from the previous year and its adjusted EBITDA margin to be slightly better than in the previous year (2018: 9.6%), excluding the effect of the IFRS 16 standard, which was adopted at the beginning of 2019.

Earlier outlook for 2019 (announced 7 March 2019):

Silmäasema expects its full-year like-for-like net sales to be at the previous year’s level and its adjusted EBITDA margin to be at the previous year’s level or slightly better (2018: 9.6%), excluding the effect of the IFRS 16 standard, which was adopted at the beginning of 2019.

SILMÄASEMA OYJ

Jussi Salminen
CEO

For further information, please contact:

CEO Jussi Salminen, tel. +358 40 834 5818
CFO Sari Nordblad, tel. +358 50 552 7247

Mikko Merisaari, Head of Communications and Investor Relations, tel. +358 50 521 4055

Silmäasema is a Finnish company with a comprehensive range of products and services for optical retail and eye healthcare nationwide. Silmäasema runs Finland’s largest chain of private eye clinics offering eye surgeries and the country’s second largest optical retail chain. The Silmäasema chain has nearly 150 stores and 13 eye clinics in Finland and nine stores in Estonia. The Silmäasema chain employs more than 1,000 eyesight and eye healthcare professionals. The Silmäasema Group’s net sales were EUR 122.9 million and its adjusted EBITDA was EUR 11.8 million in 2018.