Grandvision B.V.

GrandVision offers wide access to vision services and products, which includes prescription glasses, contact lenses and care products, and sunglasses both with and without prescription lenses. Co.'s exclusive brands includes: Frames (5th Avenue Heritage, Activ, BeBright, C-line, DbyD, Enzzo, Fuzion, Go Green, Heritage, Julius, IN STYLE, iSwitch, LightFly, Miki Ninn, Play!, Seen, Sensaya, The one, twiins); Sunglasses (Heritage, Seen, Solaris, Unofficial); Lenses (LightView, VariView); and Contact Lenses (Eyexpert, iWear). As of Dec. 31, 2016, Co.'s network includes 6,516 stores across more than 40 countries in Europe, the Americas, and Asia and operates under 29 local retail banners.
  • TickerGVNV
  • ISINNL0010937066
  • ExchangeEuronext Amsterdam
  • SectorHealth Care Equipment & Services
  • CountryNetherlands
ING
ING Helpdesk

Benelux Morning Notes

ArcelorMittal: Reported to be exploring sale of Canadian infra assets. GrandVision: Arranged additional funding and covenant holiday. IMCD: Consistent Covid-19 story

Cedric Rossi

GRANDVISION: Huge Covid-19 impact expected in Q2 but GVNV sees the light at the end of the tunnel | BUY | EUR28(+17%)

GRANDVISION - BUY | EUR28(+17%) Huge Covid-19 impact expected in Q2 but GVNV sees the light at the end of the tunnel Positive but slow recovery over the past weeks... ... which confirms that US market recovers faster GVNV’s omnichannel strategy paid off during lockdown

Alan Vandenberghe ...
  • Jason Kalamboussis
  • Joachim Vansanten
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Wido Jongman
  • Wim Hoste

Morning Note: ASC BB, DSM NA, GVNV NA, INGA NA, RET BB, UCB BB, UMI BB

Ascencio: 1HY19/20 & COVID-19 update as expected DSM: Model updated after Erber acquisition GrandVision: Ad hoc trading update ING: Orange bridge NL + Belgium fails: post mortem? Retail Estates: 50/50% rental deal as expected UCB: AAD presentations - Bime superiority over Stelara Umicore: Trading update reveals flat 1H EBIT

ING
ING Helpdesk

Benelux Morning Notes

ArcelorMittal: Reported to be exploring sale of Canadian infra assets. GrandVision: Arranged additional funding and covenant holiday. IMCD: Consistent Covid-19 story

Cedric Rossi

GRANDVISION: Huge Covid-19 impact expected in Q2 but GVNV sees the light at the end of the tunnel | BUY | EUR28(+17%)

GRANDVISION - BUY | EUR28(+17%) Huge Covid-19 impact expected in Q2 but GVNV sees the light at the end of the tunnel Positive but slow recovery over the past weeks... ... which confirms that US market recovers faster GVNV’s omnichannel strategy paid off during lockdown

Alan Vandenberghe ...
  • Jason Kalamboussis
  • Joachim Vansanten
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Wido Jongman
  • Wim Hoste

Morning Note: ASC BB, DSM NA, GVNV NA, INGA NA, RET BB, UCB BB, UMI BB

Ascencio: 1HY19/20 & COVID-19 update as expected DSM: Model updated after Erber acquisition GrandVision: Ad hoc trading update ING: Orange bridge NL + Belgium fails: post mortem? Retail Estates: 50/50% rental deal as expected UCB: AAD presentations - Bime superiority over Stelara Umicore: Trading update reveals flat 1H EBIT

ING
ING Helpdesk

Benelux Morning Notes

Adecco: 1Q20 results review; more of the same. Agfa-Gevaert: Closing of the partial sale of Agfa Healthcare. Balta: Negative Covid-19 impact on 1Q20. bpost: 1Q20 results in line - no outlook but FY20 likely well below consensus. D'Ieteren: Car registrations drop 90% in April, VW 91% GrandVision: 80% April sales decline, net debt hardly moved Kendrion: It is all about 2Q, net debt stable for now

Alan Vandenberghe ...
  • Guy Sips
  • Lenny Van Steenhuyse
  • Ruben Devos
  • Sandra Cauwenberghs
  • Wim Hoste

Morning Note: AGFB BB, BALTA BB, BPOST BB, DSM NA, GVNV NA, IVA FP, MITRA BB

Agfa: Completed sale of part of HealthCare’s IT business Balta: 1Q results still OK, coming quarters will be tougher bpost: Slightly better Q1 results, no dividend update yet DSM: Preview: resilience from Nutrition expected in 1Q GrandVision: Materially affected by COVID-19 Inventiva: NATIVE-trial baseline characteristics disclosed Mithra: Myring commercialization in Switzerland with Gynial

Peter Farren

INVEST SECURITIES - Grandvision : Une guidance 2018 un peu prudente - ACHAT, OC 26€ vs 29€

L'EBITDA T4 publié hier était conforme aux attentes et la guidance 2018 semble un peu prudente compte tenu de l'absence de charges de restructuration aux US. Nous maintenons notre recommandation ACHAT avec un objectif de 26€ vs 29€ (baisse des estimations et paramètres DCF mis à jour). Les points clés de notre thèse d'investissement sont : (i) une taille critique lui permettant d'appliquer des prix ultra-compétitifs, pour nourrir un cercle vertueux de gains de pdm ; (ii) une amélioration graduelle de la rentabilité, tirée par des gains d'efficacité et un mix produits favorable et (iii) une gén...

GRANDVISION sees a downgrade to Neutral on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of GRANDVISION (NL), active in the Specialty Retailers industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date April 21, 2020, the closing price was EUR 24.05 and its target price was estimated at EUR 19.61.

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Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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