Chapters
Annual Report 2018

Group performance

GrandVision reported €3.7 billion in revenue and €576 million in adjusted EBITDA for 2018. Revenue and EBITDA growth were driven by comparable and revenue growth in all of our three segments as well as acquisitions.

in millions of EUR
(unless stated otherwise)

FY18

FY17

Change
versus
prior year

Change at constant FX

Organic
growth

Growth from acquisitions

Revenue

3,721

3,450

7.9%

10.3%

3.9%

6.4%

Comparable growth (%)

3.4%

1.8%

Adjusted EBITDA

576

552

4.5%

6.2%

3.7%

2.5%

Adjusted EBITDA margin (%)

15.5%

16.0%

-50bps

Net result

237

249

-4.7%

Net result attributable to equity holders

216

228

-5.1%

Adjusted earnings per share, basic (in €)

0.91

0.97

-5.7%

Earnings per share, basic (in €)

0.85

0.90

-5.3%

Number of stores (#)

7,095

7,001

1.3%

System wide sales

4,079

3,784

7.8%

Revenue grew by 10.3% at constant exchange rates to €3,721 million, driven by comparable growth of 3.4%, new store openings and a 6.4% contribution from acquisitions.

Adjusted EBITDA increased by 6.2% at constant exchange rates to €576 million, while net result decreased by 4.7% to €237 million. System wide sales, which reflects the retail sales of GrandVision’s own stores and those of its franchises, increased by 7.8% to €4,079 million.