Edition:
United Kingdom

Grandvision FY Adjusted EBITDA Increases To 576 Million Euros


Wednesday, 27 Feb 2019 

Feb 27 (Reuters) - GRANDVISION NV ::FY REVENUE INCREASED BY 10.3% AT CONSTANT EXCHANGE RATES TO EUR 3,721 MILLION (FY17: EUR 3,450 MILLION) WITH COMPARABLE GROWTH OF 3.4%.FY ADJUSTED EBITDA (I.E. EBITDA BEFORE NON-RECURRING ITEMS) INCREASED BY 6.2% AT CONSTANT EXCHANGE RATES TO EUR 576 MILLION (FY17: EUR 552 MILLION).FY ADJUSTED EBITDA MARGIN DECREASED BY 50 BPS TO 15.5% MAINLY DUE TO MARGIN DILUTIVE EFFECT OF ACQUISITIONS.FY ADJUSTED EPS WAS EUR 0.91 (FY17: EUR 0.97).TOTAL NUMBER OF STORES EXPANDED BY 94, TO 7,095 (FY17: 7,001).PROPOSES A DIVIDEND OF EUR 0.33 PER SHARE.INCREASING POLITICAL AND ECONOMIC UNCERTAINTY IN SOME OF OUR MARKETS MIGHT POSE SOME CHALLENGES IN THE SHORT-TERM AS CONSUMER SENTIMENT WEAKENS - CEO.RECONFIRMS THE FOLLOWING MEDIUM-TERM OBJECTIVES.FOR 2019, GRANDVISION EXPECTS REVENUE AND EBITDA GROWTH TO BE BROADLY IN LINE WITH THE MEDIUM-TERM OBJECTIVES.