Group performance

GrandVision reported €3.3 billion in revenue and €537 million in adjusted EBITDA for 2016. Revenue and EBITDA growth were driven by the continued implementation of our 'simple, safe and honest' customer journey and the deployment of our global capabilities across the Group. Efficiency gains and a higher share of Exclusive Brands within our sales mix led to an adjusted EBITDA margin expansion of 24 bps to 16.2%.

in millions of EUR
(unless stated otherwise)

FY16

FY15

Change
versus
prior year

Change at constant FX

Organic
growth

Growth from acquisitions

Revenue

3,316

3,205

3.5%

6.5%

3.5%

3.1%

Comparable growth (%)

2.2%

4.1%

Adjusted EBITDA

537

512

5.0%

6.7%

7.3%

-0.6%

Adjusted EBITDA margin (%)

16.2%

16.0%

24bps

Net result

252

231

9.1%

Net result attributable to equity holders

231

213

8.8%

Adjusted earnings per share, basic (in €)

0.96

0.87

11.3%

Earnings per share, basic (in €)

0.92

0.84

8.7%

Number of stores (#)

6,516

6,110

6.6%

System wide sales

3,657

3,541

3.3%

Revenue grew by 6.5% at constant exchange rates to €3,316 million, driven by comparable growth of 2.2%, new store openings and a 3.1% contribution from acquisitions. Adjusted EBITDA increased by 6.7% at constant exchange rates to €537 million, and net result increased by 9.1% to €252 million. System-wide sales, which reflects the retail sales of GrandVision’s own stores and those of its franchises, increased by 3.3% to €3,657 million.