Schiphol, the Netherlands - 2 May 2017. GrandVision N.V. publishes the First Quarter 2017 trading update.
Highlights
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First Quarter revenue grew by 5.2% or 6.2% at constant exchange rates to €845 million
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Comparable growth was 4.1% (0.9% in 1Q16), benefiting from commercial effectiveness, strong sunglass sales, the timing of the Easter holidays and lower prior year comparables
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G4 revenue grew by 3.1% at constant exchange rates with comparable growth of 1.5% (0.3% in 1Q16)
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Other Europe revenue grew by 9.4% at constant exchange rates with comparable growth of 8.0% (-0.5% in 1Q16)
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Americas and Asia revenue grew by 15.2% at constant exchange rates with comparable growth of 7.6% (8.5% in 1Q16)
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Adjusted EBITDA (i.e. EBITDA before non-recurring items) increased by 12.6% at constant exchange rates to €136 million
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The adjusted EBITDA margin increased by 79 bps to 16.1%
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Total number of stores was 6,551 (6,516 at year-end 2016)
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GrandVision expects a softer 2Q17 due to the timing of the Easter holidays and higher prior year comparables especially in the Other Europe segment
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GrandVision will host an analyst call on 2 May at 9am CET. Dial-in details are available at investors.grandvision.com and at the bottom of this press release
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GrandVision announced the launch of its CEO succession plan in a separate press release, issued on 2 May 2017
GrandVision 1Q17 press release
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Source: GrandVision nv via GlobeNewswire
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