GVNV GrandVision NV

GrandVision reports 2019 Revenue of €4,037 million (+8.7%) and adjusted EBITDA of €604 million (+5.1%)

GrandVision reports 2019 Revenue of €4,037 million (+8.7%) and adjusted EBITDA of €604 million (+5.1%)

Schiphol, the Netherlands – 26 February 2020. GrandVision NV (EURONEXT: GVNV) publishes Full Year and Fourth Quarter 2019 results.

2019 Highlights

  • Revenue increased by 8.7% at constant exchange rates to €4,037 million (FY18: €3,721 million) with comparable growth of 4.1%
  • E-commerce sales grew by 66% as a result of Lenstore's ongoing growth, the acquisition of Charlie Temple as well as omni-channel growth in our banners
  • Adjusted EBITDA* (i.e. EBITDA before non-recurring items) increased by 5.1% at constant exchange rates         to €604 million pre-IFRS 16 (FY18: €576 million)
  • Adjusted EBITDA* margin decreased by 54 bps to 14.9% in part driven by higher investments in the ongoing product value chain transformation and into digital capabilities
  • Adjusted EPS was €0.91 (FY18: €0.91)
  • The net debt position was €753 million at year-end 2019 (FY18: €743 million) with a leverage ratio of 1.2 times
  • The total number of stores expanded by 311, to 7,406 (FY18: 7,095) driven by acquisitions and network expansion
  • Supervisory Board proposes a dividend of €0.35 per share. The shares will trade ex-dividend on 28 April 2020, and the dividend will be payable as of 4 May 2020.

GrandVision will host an analyst call on 26 February 2020 at 9am CET. Webcast and dial-in details are available at investors.grandvision.com and at the bottom of this press release.



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26/02/2020

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