GrandVision reports preliminary 4Q16 revenue growth of 8.0% and comparable growth of 3.8%
(Thomson Reuters ONE) -
Schiphol, the Netherlands - 24 January 2017. GrandVision NV (EURONEXT: GVNV),
reports preliminary and unaudited revenue growth at constant exchange rates of
6.6% for FY16 and 8.0% for 4Q16. Comparable growth in 4Q16 reached 3.8%. For the
full year 2016, comparable growth was 2.2%.
In the G4 segment, which comprises the business units France & Luxembourg,
Germany & Austria, Netherlands & Belgium and UK & Ireland, revenue and
comparable growth accelerated in 4Q16.
In Germany, the revenue growth in the fourth quarter is a result of attracting
customers of which some had delayed their purchase from 3Q16 when retail
traffic, in general, was weak. This was supported by omnichannel features and
related marketing activities.
In France, revenue grew by low single digits in FY16 driven by comparable
growth, network expansion and single store bolt-on acquisitions. We estimate
that we gained market share as regulatory changes led to price pressure in the
market, benefiting more affordable concepts such as Générale d'Optique.
In Other Europe, revenue and comparable growth accelerated in 4Q16. The region's
biggest market, Italy, contributed to this performance, as well as the impact of
an additional selling day.
The business in Italy showed solid growth in the fourth quarter as the impacts
of the post-merger process of Avanzi and Optissimo are diminishing, and the
rebranding efforts, while still not fully completed, are gaining traction with
consumers. In addition, the business faced easier comparables in 4Q16.
Eastern Europe and the Nordics also contributed positively to revenue and
comparable growth.
In the Americas & Asia segment comparable growth in 4Q16 was in line with the
first nine months of 2016. The revenue growth was the result of acquisitions in
the USA, Mexico and Uruguay as well as strong organic growth, especially in
Mexico and Turkey.
GrandVision reiterates its medium term objective of achieving at least 5%
revenue growth at constant exchange rates and adjusted EBITDA growth of high
single digits at constant exchange rates.
GrandVision will host a conference call and audio webcast on 24 January at 9am
CET. The dial-in details are available at investors.grandvision.com. The Full
Year 2016 results press release will be published on 20 February 2017.
GrandVision 4Q16 Preliminary Comparable Growth:
https://hugin.info/167729/R/2072947/779130.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: GrandVision nv via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 24.01.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 519376
Anzahl Zeichen: 3082
contact information:
Town:
Schiphol
Kategorie:
Business News
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