Silmäasema Oyj: Profit warning: Silmäasema improves its like-for-like net sales outlook for 2019
Silmäasema Oyj
Stock Exchange Release
26 November at 9:00 a.m. EET
Silmäasema raises its estimates for like-for-like net sales for 2019.
The improvement in outlook regarding like-for-like net sales is driven by the Optical trade’s actual sales development and estimated sales development for the rest of the year. In addition, measures initiated to improve sales in Eye clinics have started to support the like-for-like net sales growth and positive development is expected to continue rest of the year.
Updated outlook for 2019:
Silmäasema expects its full-year like-for-like net sales to increase clearly from the previous year and its adjusted EBITDA margin to be slightly better than in the previous year (2018: 9.6%), excluding the effect of the IFRS 16 standard, which was adopted at the beginning of 2019.
Earlier outlook for 2019 (announced 18 September 2019):
Silmäasema expects its full-year like-for-like net sales to increase slightly from the previous year and its adjusted EBITDA margin to be slightly better than in the previous year (2018: 9.6%), excluding the effect of the IFRS 16 standard, which was adopted at the beginning of 2019.
SILMÄASEMA OYJ
For further information, please contact:
CEO Jussi Salminen, tel. +358 40 834 5818
CFO Sari Nordblad, tel. +358 50 552 7247
Niina Streng, Head of Communications and Investor Relations, tel. +358 50 322 5195
Silmäasema is a Finnish company, which offers all products and services for optical retail and eye healthcare nationwide. Silmäasema is the largest private eye clinic provider offering eye surgeries and the second largest optical retail chain in Finland. The Silmäasema chain has nearly 150 stores and 13 eye clinics in Finland as well as eight stores in Estonia. The Silmäasema chain employs over 1,000 eye healthcare professionals. The Silmäasema Group’s net sales were EUR 122.9 million in 2018 and adjusted EBITDA was EUR 11.8 million.