Schiphol, the Netherlands - 29 April 2016. GrandVision N.V. publishes the First Quarter 2016 trading update.
Highlights
- First Quarter revenue grew by 2.5% or 4.9% at constant exchange rates to €803 million
- Comparable growth was 0.9% (5.5% in 1Q15)
- G4 revenue grew by 1.2% at constant exchange rates with comparable growth of 0.3% (6.7% in 1Q15)
- Other Europe revenue grew by 1.0% at constant exchange rates, while comparable sales declined by 0.5% (1.8% in 1Q15)
- Americas and Asia revenue grew by 35.5% at constant exchange rates with comparable growth of 8.5% (8.8% in 1Q15)
- Adjusted EBITDA (i.e. EBITDA before non-recurring items) increased by 0.3% to €123 million
- The adjusted EBITDA margin decreased by 32 bps to 15.3% including the diluting impact of acquisitions; excluding acquisitions the adjusted EBITDA margin improved by 12 bps to 15.7%
- Total number of stores was 6,121 (6,110 at year-end 2015).
