Schiphol, the Netherlands - 1 August 2017. GrandVision N.V. publishes Half Year and Second Quarter 2017 results.
Half Year 2017 highlights
- Revenue grew by 4.4% at constant exchange rates with all segments contributing to this growth
- Comparable growth of 2.4% driven by all categories: spectacles, contact lenses and sunglasses
- Continued network expansion with more than 400 stores added over the last 12 months
- Adj. EBITDA (i.e. EBITDA before non-recurring items) increased by 3.4% at constant exchange rates
- Adj. EBITDA margin decline of 27 bps to 16.0%, as EBITDA margin expansion in the G4 and Other
- Europe segments was offset by the increasing exposure to faster growing markets as well as additional
- costs to build the platform in the United States
- Ongoing digital transformation with continued investments in global ERP and omnichannel systems
- 2Q17 revenue, comparable growth and adj. EBITDA impacted by timing of Easter, as anticipated
- GrandVision expects an improved revenue, adj. EBITDA and comparable growth performance in 3Q17
The Half Year 2017 Financial Report is available at www.grandvision.com. Dial-in details for the analyst call at 9:00 am CET are available at the end of this press release.
