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Wednesday 30 October, 2019

GrandVision Retail Holding B.V

GrandVision reports 3Q19 revenue growth of 9.7% at constant exchange rates and comparable growth of 4.0%

GrandVision reports 3Q19 revenue growth of 9.7% at constant exchange rates and comparable growth of 4.0%

Schiphol, the Netherlands – 30 October 2019. GrandVision N.V. publishes the Nine Months and Third Quarter 2019 results.

Nine months and third quarter 2019 highlights

  • 9M19 revenue growth of 8.1% at constant exchange rates and comparable growth of 3.9% (9M18: 3.6%)
  • 3Q19 revenue growth of 9.7% at constant exchange rates and comparable growth of 4.0% (3Q18: 5.1%)
  • 9M19 adjusted EBITDA (i.e. EBITDA before non-recurring items) increased by 3.3% at constant exchange rates
  • 3Q19 adjusted EBITDA increased by 4.9% at constant exchange rates
  • The 9M19 adjusted EBITDA margin decreased by 75 bps to 15.2% (9M18: 15.9%), in part driven by higher investments in the ongoing product value chain transformation and into digital capabilities
  • The 3Q19 adjusted EBITDA margin decreased by 76 bps to 15.7% (3Q18: 16.5%)
  • The net debt position was € 831 million (€ 867 million as of June 2019)
  • E-commerce sales grew over 60% in 9M19, also driven by the expansion of Lenstore and the acquisition of Charlie Temple. In addition, GrandVision's omni-channel platform has now been successfully launched in 7 countries
  • Our store base grew by 101 to 7,366 stores during the quarter driven by store openings and acquisitions.

GrandVision will host an analyst call on 30 October at 9 am CET. Dial-in details are available at the end of this press release.

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