Schiphol, the Netherlands - 2 May 2017. GrandVision N.V. publishes the First Quarter 2017 trading update.
Highlights
- First Quarter revenue grew by 5.2% or 6.2% at constant exchange rates to €845 million
- Comparable growth was 4.1% (0.9% in 1Q16), benefiting from commercial effectiveness, strong sunglass sales, the timing of the Easter holidays and lower prior year comparables
- G4 revenue grew by 3.1% at constant exchange rates with comparable growth of 1.5% (0.3% in 1Q16)
- Other Europe revenue grew by 9.4% at constant exchange rates with comparable growth of 8.0% (-0.5% in 1Q16)
- Americas and Asia revenue grew by 15.2% at constant exchange rates with comparable growth of 7.6% (8.5% in 1Q16)
- Adjusted EBITDA (i.e. EBITDA before non-recurring items) increased by 12.6% at constant exchange rates to €136 million
- The adjusted EBITDA margin increased by 79 bps to 16.1%
- Total number of stores was 6,551 (6,516 at year-end 2016)
- GrandVision expects a softer 2Q17 due to the timing of the Easter holidays and higher prior year comparables especially in the Other Europe segment
- GrandVision will host an analyst call on 2 May at 9am CET. Dial-in details are available at investors.grandvision.com and at the bottom of this press release
- GrandVision announced the launch of its CEO succession plan in a separate press release, issued on 2 May 2017
