Chapters
Annual Report 2018

Revenue development

During 2018, GrandVision achieved the highest level of top-line growth since 2015 with revenue growth at constant exchange rates of 10.3% and comparable store growth of 3.4%. Organic growth was 3.9% with a lower contribution from new stores than in previous years due to a higher number of store closings.

Acquisitions contributed 6.4% to revenue growth for the full year 2018. This included the Visilab and Tesco Opticians acquisitions, which were completed at the end of 2017.

GrandVision opened around 400 new stores in 2018, resulting in a net addition of 94 stores to 7,095 at the end of the year, further strengthening GrandVision’s position as the world’s largest retailer of prescription glasses.

System wide sales, which reflects the retail sales of GrandVision’s own stores plus that of its franchisees, increased by 7.8% to €4,079 million (FY17: €3,784 million).

Revenue in € million
Comparable Growth


Revenue by segment in 2018

In 2018, all three regional segments delivered organic revenue growth. Among GrandVision's product categories, contact lenses showed the highest growth rate, benefiting from the continued expansion of the e-commerce sales. Pure online sales are now approching 10% of the contact lenses category sales.

Revenue development

in millions of EUR
(unless stated otherwise)

2018

2017

Change
versus
prior year

Change at
constant FX

Organic
growth

Growth from acquisitions

G4

2,131

1,981

7.6%

7.9%

3.0%

4.8%

Other Europe

1,130

990

14.1%

15.8%

3.3%

12.5%

Americas & Asia

459

479

-4.1%

8.8%

8.7%

0.1%

Total

3,721

3,450

7.9%

10.3%

3.9%

6.4%